Acquisition of a new hospital (Traumatology)

JSC Evex Medical Corporation (“Evex”) has acquired 100% equity interest in a 60-bed hospital in Tbilisi providing a wide-range of in-patient and out-patient services with particular expertise in traumatology.

The acquisition of this new hospital is in line with the company’s previously announced strategy to scale up its healthcare service business through targeted hospital acquisitions focusing on Tbilisi. Following the acquisition, Evex has 38 healthcare facilities and 2,140 beds in Georgia. “I am very pleased to announce one more important acquisition, which further strengthens our healthcare franchise in the capital city. I would like to congratulate our healthcare team on the completion of the transaction, which increases our national market share by hospital beds to 22.5% from 14.3% at the beginning of the year,” commented Irakli Gilauri, Chief Executive Officer of Bank of Georgia, a 100% shareholder of Evex.

“The addition of another leading hospital complements our current portfolio of healthcare facilities in Tbilisi, enabling us to tap a new segment of patients and offering significant opportunities for cost synergies that our experienced team will work to deliver over the next few months,” commented Murtaz Kikoria, Chairman of the board of directors, Evex.

News was originally announced on 6 October 2014 at