Acquisition of a new hospital (Caraps)

Unimed, the wholly-owned healthcare subsidiary of Aldagi has acquired 100% equity interest in the 60 bed high-end, multi-specialty hospital in Tbilisi. The hospital generated an estimated revenue of GEL 7.7 million in 2013.

The acquisition of the new hospital is in line with the company’s previously announced strategy to scale up its healthcare business through targeted hospital acquisitions focusing on Tbilisi. Following the acquisition, the Bank’s healthcare subsidiary has 32 healthcare facilities and 1,329 beds in Georgia. “I am very pleased to start 2014 with this important acquisition, which further strengthens our healthcare franchise in the country as we expand our healthcare services in the capital city. The addition of the second largest luxury hospital to Aldagi’s leading hospital chain offers ample opportunities for cost synergies, that I believe, our experienced team will be able to deliver over the next few months. I would like to congratulate our Aldagi team with the completion of the transaction and looking forward to an interesting year ahead,” commented Irakli Gilauri, Chief Executive Officer of Bank of Georgia, a 100% shareholder of Aldagi.

News was originally announced on 14 January 2014 at