Georgia Healthcare Group PLC Sale of land to m2 Real Estate (9807A)

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RNS Number : 9807A

Georgia Healthcare Group PLC

03 June 2019

London, 3 June 2019

Sale of land to m2 Real Estate

On 3 June 2019, GEPHA, a pharmacy and distribution subsidiary of Georgia Healthcare Group PLC ("GHG"), agreed to the sale of land previously used by the business to m2, a commercial real estate business, for a cash consideration of US$2 million. M2 is a wholly owned subsidiary of Georgia Capital PLC ("GCAP"), who holds a 57% shareholding in GHG. The contract is on a commercial basis and on standard arms-length terms.

This transaction falls within and this announcement has been made in accordance with the requirements of 11.1.10 of the UK Listing Rules.

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 18 referral hospitals and 35 clinics. GHG is the single largest market participant, accounting for 25% of total hospital bed capacity in the country, as of 31 March 2019. 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 c.230,000 insurance customers as of now. GHG employed a total of c.16,000 people as at 31 March 2019, including c.3,600 physicians and c.3,000 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] 
 

This news report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities

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June 03, 2019 10:16 ET (14:16 GMT)