23 Aug 2018 07:30
London, 23 August 2018
Update on Georgia Capital's holding in GHG
Georgia Healthcare Group PLC ("GHG") announces that its parent company Georgia Capital PLC ("Georgia Capital"), which holds 57% of the equity shares of GHG, today published an announcement stating that it no longer expects to own less than a 50% stake in GHG at the end of 2018, as previously announced.
In light of the prevailing market conditions, the board of directors of Georgia Capital believes that the current share price significantly undervalues the performance and prospects of GHG and has, therefore, concluded that a further reduction of Georgia Capital's holding in GHG, at this time, will not be in the best interests of its shareholders. A copy of Georgia Capital's announcement is available at: http://georgiacapital.ge/ir/news/update-georgia-capitals-holding-ghg-0.
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 17 district polyclinics. GHG is the single largest market participant, accounting for 24.9% of total hospital bed capacity in the country, as of 30 June 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 27.2% market share based on net insurance premiums earned and approximately 157,000 insurance customers as at June 2018. GHG employed a total of c.15,500 people as at 30 June 2018, including c.3,600 physicians.
For further information, please visit ghg.com.ge or contact:
Nikoloz Gamkrelidze | Irakli Gogia | Ketevan Kalandarishvili |
CEO | CFO | Head of Investor Relations |
+995 322 550505 (5077) | +995 322 550505 (5088) | +995 322 550505 (5079) |
ngamkrelidze@ghg.com.ge | irakligogia@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