Georgia Healthcare Group PLC GHG signs loan agreement with IFC (5203J)
12 September 2016 - 4:01PM
UK Regulatory
TIDMGHG
RNS Number : 5203J
Georgia Healthcare Group PLC
12 September 2016
London, 12 August 2016
Georgia Healthcare Group signs US$ 25 million 8-year loan
agreement with IFC
Georgia Healthcare Group PLC (the "Group" or "GHG") announces
that its healthcare services business subsidiary, the leading
private healthcare service provider in Georgia, and International
Finance Corporation ("IFC"), a member of the World Bank Group, have
signed a US$ 25 million loan agreement, with a maturity of
eight-years.
This new loan facility will enable GHG to continue to finance
its healthcare services business development programme, which
includes the development of new hospitals as well as additional
healthcare services, throughout the country.
"I am very pleased to announce the successful completion of
another important long-term funding transaction and to start our
co-operation with IFC, supporting the sustainable development of
the Georgian healthcare sector. After the recent deleveraging of
our balance sheet, following our successful IPO last year, new
funding from Development Financial Institutions helps us to build a
longer-term, less expensive funding profile. It helps us to
renovate hospitals and develop new services, contributing to the
successful implementation of our strategy." commented Nikoloz
Gamkrelidze, CEO of Georgia Healthcare Group.
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 35 hospitals and six ambulatory clusters
(consisting of nine district ambulatory clinics and 28 express
ambulatory clinics), as at 30 June 2016. GHG is the single largest
market participant, accounting for 25.1% of total hospital bed
capacity in the country, as of 30 June 2016. GHG is the third
largest pharmaceuticals retailer and wholesaler in Georgia,
approximately 15% market share by revenue, as of 31 December 2015.
GHG is also the largest provider of medical insurance in Georgia
with a 34% market share based on net insurance premiums earned and
approximately 203,000 insurance customers as at 30 June 2016. GHG
employed a total of c.11,900 people as at 30 June 2016, including
2,954 physicians and 712 pharmacists.
For further information, please visit www.ghg.com.ge or
contact:
Nikoloz Gamkrelidze David Vakhtangishvili Ekaterina (Eka)
Shavgulidze
CEO CFO Head of Investor
Relations
+995 322 550505 +995 322 550505 +995 322 444
(5077) (4810) 205
ngamkrelidze@ghg.com.ge dvakhtangishvili@ghg.com.ge ir@ghg.com.ge
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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