Aqquisition22 Feb 2014 10:28
Bank of Georgia unit acquires four hospitals.____
A Bank of Georgia subsidiary has acquired an 80% equity interest in Avante Hospital Management Group which owns four hospitals in Tbilisi and Batumi.
The acquisition was made by Unimed Kakheti LLC, a wholly-owned subsidiary of JSC Insurance Company Aldagi, the bank's healthcare and insurance subsidiary.
Avante is the second largest healthcare provider in Georgia by number of beds.
Generating an estimated revenue of GEL35.0m in 2013, this portfolio of hospitals provides Aldagi with leading positions in both pediatric and maternity care.___ (20 February 2014)