GHG announces opening of "Sunstone"

  London, 3 April 2017

GHG announces opening of "Sunstone"

Georgia Healthcare Group PLC ("GHG" or the "Group") announces the completion of its renovation of Sunstone referral hospital ("Sunstone") with the first phase of its opening taking place today. Located in the Eastern part of Tbilisi, the hospital has newly renovated 220 beds. The full launch of the 332-bed Sunstone hospital is planned by the end of this year, in line with the expected increasing demand.

The hospital will serve as a third level referral hospital for the Eastern Tbilisi population and will become East Georgia's referral centre, covering more than 300,000 citizens. It will provide high level acute and elective paediatric and adult healthcare services including: maternity, neonatology, neurology, cardiology, cardio surgery and general surgery. 

Sunstone was acquired in May 2014 to capitalise on the previously under-developed hospital. We started renovation of this Soviet-era amortised hospital in January 2016. The launch of the hospital is two months ahead of the original schedule.

"I am delighted to announce the completion of the first phase of renovation and the launch of Sunstone hospital - two months ahead of the initial schedule, and within budget as announced during the Initial Public Offering. We expect that a number of Georgian doctors repatriated from abroad, together with leading physicians who have recently been recruited from competitor clinics, will play a key role in developing Sunstone into a first-class hospital in Georgia." - 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.

For further information, please visit www.ghg.com.ge or contact: 

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