GHG announces new independent Chairman and other changes to its Board of Directors

Georgia Healthcare Group PLC (“GHG” or the “Group”) announces changes to its Board of Directors (the “Board”) with effect from 20 September 2018. The changes will further strengthen the Board’s independence, reflecting its commitment to adhere to the highest standards of corporate governance.


William (Bill) Huyett, an independent non-executive director, has been appointed as Chairman of GHG’s Board of Directors. Bill replaces Irakli Gilauri, who will remain on the Board as a non-executive director. 


Fabian Blank joins the Board as an independent non-executive director. He has also been appointed as a member of the Clinical Quality and Safety and Nomination Committees and will join the Supervisory Board of JSC Georgia Healthcare Group.


Ingeborg Oie has been appointed to the Audit Committee and has stepped down from the Clinical Quality and Safety Committee. Irakli Gilauri has stepped down from the Remuneration Committee, and Bill Huyett and Tim Elsigood have been appointed to the Nomination Committee.


“Firstly, I want to thank each member of the Board for their commitment and very significant contribution to the growth of the Group since its listing in November 2015. I am confident that Bill’s appointment as Chairman will further contribute to the Board’s independence and consider this change to be in the long-term interest of GHG and its shareholders. I would like to welcome Bill to his new role and look forward to continuing our work together with the entire team.” - commented Irakli Gilauri.


“I would like to congratulate Bill on his new appointment as Chairman and wish him every success in his new role. With his expertise in global healthcare systems, I am confident Bill will make great contribution to the Group, building substantial value for shareholders. I am also delighted to welcome Fabian to our Board. He brings with him a wealth of knowledge and experience in digital health, which is one of the Group’s key strategic priorities, and will be a valuable addition to the current skills mix within the Board. Finally, on behalf of the entire board, I would also like to thank Irakli for his significant input into GHG’s progress and strategic development as our Chairman.  I am grateful that I will be able to continue to rely on his advice and counsel.” - commented Nikoloz Gamkrelidze, CEO of Georgia Healthcare Group.


“It gives me great pleasure to accept the Chairman’s role on the GHG Board and am proud to be a part of the Group, whose existing strong governance has resulted in exceptional momentum over the last few years. GHG has significant growth and value creation opportunities ahead. I’m excited to continue working with the rest of the Board and management to deliver on the strategic and operating priorities that will deliver on those opportunities.” - commented Bill Huyett.


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 37 hospitals and 17 district polyclinics. GHG is the single largest market participant, accounting for 24.9% of total hospital bed capacity in the country, as of 30 June 2018. GHG is also the largest pharmaceuticals retailer and wholesaler in Georgia, with approximately 30% market share by revenue.  GHG is the second largest provider of medical insurance in Georgia with a 27.2% market share based on net insurance premiums earned and approximately 157,000 insurance customers as at June 2018. GHG employed a total of c.15,500 people as at 30 June 2018, including c.3,600 physicians.


For further information, please visit or contact:

Nikoloz Gamkrelidze

Irakli Gogia

Ketevan Kalandarishvili



Head of Investor Relations

+995 322 550505 (5077)

          +995 322 550505 (5088)

         +995 322 550505 (5079)


This news report is presented for general informational purposes only and should not be construed as an offer to sell or the solicitation of an offer to buy any securities





William (Bill) Huyett. Mr. Huyett is the Chief Operating Officer of Ironwood Pharmaceuticals a NASDAQ-listed biopharmaceutical innovator in Cambridge, MA. Prior to that, during a 30-year career at McKinsey & Company, Inc. in the US and Europe, he served clients in health care and other technology-intensive sectors. He advised those clients on value creation strategies and their implications for organisation effectiveness and board governance. His areas of expertise include corporate portfolios, growth, M&A and divestitures. He is the co-author of a text on corporate finance:  Value: Four Cornerstones of Value Creation. He currently serves on the boards of several not-for-profit institutions, including Rockefeller University in New York and Marine Biological Laboratory in Woods Hole.  He is also a non-executive director of Georgia Capital PLC.



Fabian Blank. Mr. Blank is an entrepreneur, investor and senior management advisor in healthcare. He has operational leadership experience in healthcare services, and a strong background in digital health and technology. Mr. Blank is an early stage investor and founder in digital health, actively involved in a portfolio of patient-centric startups. As an independent senior management and board-level advisor, he works with healthcare providers and payors, medical technology companies, and private equity firms looking at growth opportunities in healthcare including digital transformation, innovation / disruption, and M&A. Previously, Mr. Blank was co-owner and CEO of a midsized rehab clinic group focused on post acute treatment in orthopedics and cardiology. He grew utilisation, revenues, and EBITDA in a mature, highly competitive market before exiting the firm to a private equity group. He started his career at McKinsey & Company, Inc. Throughout his 13 years and as a Partner, he focused on growth topics and consumer centric functions in mobile telecoms and healthcare services. He spent the majority of his time in high growth markets, working in more than 20 countries across Eastern Europe, Sub Saharan Africa, India and South East Asia.





There are no other details that are required to be disclosed under LR 9.6.13R of the UK Listing Rules.