GHG.L Regulatory News (GHG)

  London, 27 March 2017

GHG announces further strengthening of management structure

Georgia Healthcare Group PLC ("GHG" or the "Group") announces two Group management appointments, strengthening the Group management structure. Mr. Irakli Gogia, previously the Chief Operating Officer of the Group, has also been appointed as Chief Financial Officer (CFO) of the Group, combining the two functions - Finance and Operations. The Group is also expanding its Risk Management function to combine the Group's Information Technology (IT) and Risk Management in a single, combined department under the newly created Chief Risk Officer (CRO) role. Mr. David Vakhtangishvili, the Group's former CFO, has been appointed into this position. 

"We believe that GHG will benefit hugely from this change, increasing the management effectiveness of the Group. Irakli has extensive experience in both the finance and operations functions, and I am confident that he will deliver on the targets of the enhanced department. The newly created Risk Management department is a key area that we want to focus on, given the increasing size of the Group's operations. This, together with IT development, will be the key in moving GHG to the next stage of its development and we believe that David, who has effectively served as a CFO since 2015, is the best candidate for the new role. I wish success to both Irakli and David in their new roles." - commented Nikoloz Gamkrelidze, CEO of Georgia Healthcare Group.

Name of authorised official of issuer responsible for making notification:

Ekaterina Shavgulidze, 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 35 hospitals and ten ambulatory clusters (consisting of 13 district ambulatory clinics and 28 express ambulatory clinics), as at 31 December 2016. GHG is the single largest market participant, accounting for 23.4% of total hospital bed capacity in the country, as of 31 December 2016. From January 2017, GHG become the largest pharmaceuticals retailer and wholesaler in Georgia, with approximately 29% market share based on 31 December 2015 revenue figures. GHG is also the largest provider of medical insurance in Georgia with a 35.1% market share based on net insurance premiums earned and approximately 211,000 insurance customers as at 31 December 2016. GHG employed a total of c.12,800 people as at 31 December 2016, including c.3,200 physicians and c.720 pharmacists.

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