Georgia Healthcare Group PLC (the “Group” or “GHG”) announces that its healthcare services business subsidiary (“Evex”), the leading private healthcare service provider in Georgia, and the European Development Financial Institution, Société de Promotion et de
Participation pour la Coopération Economique (“Proparco”) have signed a US$ 25 million loan agreement, with a maturity of eight-years.
The loan will enable Evex to finance its development programme that includes the expansion of an ambulatory clinics network and the development of new hospitals as well as healthcare services, throughout the country.
“I am very pleased to start cooperation with Development Financial Institutions such as Proparco and announce the successful completion of an important long-term funding transaction for our healthcare services business, supporting the sustainable growth of our Group. After recent deleveraging of our balance sheet, following a successful IPO in 2015, the new funding from Development Financial Institutions helps us to build a longer-term, less expensive funding profile. This financing enables Evex to benefit from Proparco’s experience in supporting a sustainable development of the healthcare sector. It helps us to renovate Deka and Sunstone hospitals, launch ambulatory clinics and a large number of new healthcare services at our facilities, this way contributing to the successful implementation of our strategy.” commented Nikoloz Gamkrelidze, CEO of Georgia Healthcare Group.