Completing the acquisition of 100% equity interest in Avante

Unimed Kakheti LLC, the wholly-owned healthcare subsidiary of JSC Insurance Company Aldagi (“Aldagi”), has increased its stake in Avante Management Group (“Avante”), from 80% to 100%. Aldagi acquired an 80% equity interest in Avante in February 2014, and the remaining 20% interest in March 2014.

Avante owns four hospitals with a total of 578 beds located in Tbilisi and Batumi and is the second largest healthcare provider in Georgia by number of beds, after Aldagi. Following the acquisition, Aldagi has 36 healthcare facilities and 1,907 hospital beds in Georgia.

News was originally announced on 6 March 2014 at