Georgia Healthcare Group PLC GHG announces the opening of Mega Laboratory (6449K)

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RNS Number : 6449K

Georgia Healthcare Group PLC

17 December 2018

London, 17 December 2018

Georgia Healthcare Group PLC announces the opening of Mega Laboratory

Georgia Healthcare Group ("GHG" or "the Group") announces the completion of the construction of Mega Laboratory ("Mega Lab"), the largest diagnostics laboratory in Georgia as well as in the entire Caucasus region. Mega Lab will be formally opened today.

The multi-disciplinary laboratory, equipped with the most up-to-date infrastructure and state-of-the-art equipment, covers 7,500 square metres. High-capacity automated systems will enable GHG to provide accurate, high quality results for the country's whole population. The laboratory will cover a full set of clinical and pathology tests, some of which are being introduced in the region for the first time.

The high technology unified laboratory will collect samples, initially from the Group's hospitals and polyclinics throughout Georgia. The test results will be distributed automatically to each hospital and polyclinic within the Group, through internal Laboratory Information Management System (LIMS), enabling us to be significantly more efficient and provide a reliable service to our patients. As the Group's internal demand will cover only one third of laboratory's capacity, Mega Lab plans to develop a retail network and to work on additional B2B contracts, contracting and serving healthcare facilities outside the Group.

Currently, the laboratory is in the process of consolidating the Group's internal demand and building an effective logistic system that will be finalised within two to three months.

The project is supported by our colleagues from Jordan, "Biolab", a subsidiary of IDH Group, who have several years of experience in this field. Biolab is the only laboratory in the Kingdom that has received JCI accreditation as an independent laboratory, and will support Mega Lab to get the same accreditation over the next few years. They are conducting training and knowledge sharing for our personnel and are also creating an initial technical base.

"I am very pleased to announce the completion of the strategically important project, which will be new, separate business line under GHG and which will bring new growth opportunities to the Group. Mega Lab enables us to provide high-quality laboratory and diagnostic services to the country's population and to improve efficiency Group-wide. In addition to covering basic laboratory tests, the new laboratory allows us to introduce complex tests for oncology and molecular lab, some of that have never previously been completed in Georgia and for which blood samples had to be sent abroad. The launch is in line with our strategy to invest in and develop new medical services to keep filling existing service gaps in the country, supporting the market's continuing development and our services export strategy. Finally, I would like to thank IDH Group and each member of the Biolab's team for their great input and continuous support during the whole process." - commented Nikoloz Gamkrelidze, CEO of Georgia Healthcare Group.

Name of authorised official of issuer responsible for making notification:

Ketevan Kalandarishvili, Head of Investor Relations

About Georgia Healthcare Group PLC

Georgia Healthcare Group PLC is a UK incorporated holding company of the largest healthcare services provider in the fast-growing, predominantly privately-owned, Georgian healthcare services market. GHG's leadership position is underpinned by offering the most comprehensive range of inpatient and outpatient services targeting the mass market segment through its vertically integrated network of 37 hospitals and 16 district polyclinics. GHG is the single largest market participant, accounting for 25% of total hospital bed capacity in the country, as of 30 September 2018. GHG is also the largest pharmaceuticals retailer and wholesaler in Georgia, with approximately 30% market share by revenue. GHG is the second largest provider of medical insurance in Georgia with a 27% market share based on net insurance premiums earned and approximately 158,000 insurance customers as at September 2018. GHG employed a total of c.15,500 people as at 30 September 2018, including c.3,600 physicians and 2,900 pharmacists.

For further information, please visit ghg.com.ge or contact:

 
      Nikoloz Gamkrelidze            Irakli Gogia                      Ketevan Kalandarishvili 
      CEO                            CFO                               Head of Investor 
                                                                        Relations 
                                                                          [phone] 
      [phone] (5077)             [phone] (5088)            (5079) 
      [e-mail]            [e-mail]            [e-mail] 
 

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December 17, 2018 02:01 ET (07:01 GMT)