GHG at a Glance

Proven track record of growth

Our senior management team includes individuals with an average 10 years of management experience in the healthcare services and medical insurance markets and implemented numerous strategic initiatives that have been integral to our continued growth.

The senior management team is supported by executives and management personnel comprised of physicians and professional managers with extensive industry experience and expertise and, in many cases, long-standing experience in the healthcare or insurance industry. In particular, to ensure high clinical standards we have recruited select clinicians with extensive prior experience with leading western institutions such as the Division of Neonatology, University of Kentucky, the Oldenburg Cardio Surgery Centre (Germany), Treviso Regional Hospital General (Italy) and the North-western Memorial Hospital (Chicago). Since the opening of our first ambulatory clinic in 2006 we have acquired and integrated more than 25 hospitals and outpatient clinics, built or renovated a further ten facilities and added c.2,200 beds. We have entered into the pharma business by purchasing third and fourth largest pharma players in the market and successfully integrated them. In December 2018, we also launched the first largest laboratory in Georgia as well as in entire Caucasus region.

The market knowledge and experience of our management team is instrumental to our new approach to both - delivering strong growth through the development of new supportive growth projects and benefiting from the organic growth of our businesses. We created a first-class set of human and physical assets/systems and continue to grow a new generation of doctors and nurses, while building robust clinical quality management processes. We made important strides in the quality leadership approach, with the formation of physicians-led clinical boards that are charged with the continuous improvement in quality and clinical performance.

Our existing businesses grew, with new customers attracted by new and innovative services offerings, partnerships with leading brands such as The Body Shop and adding a number of other new products, high levels of customer service and a modern, nationwide network of facilities.

We expanded our pipeline of new growth businesses. Expanded our offering in medical tourism by offering patients from the target market superior care at affordable prices, benefiting from the absence of a language barrier and visa-free travel. Opened Mega Lab, the largest and the most advanced diagnostic testing facility in the Caucasus region and increased our offerings in new retail laboratory diagnostic services.

We achieved a true breakthrough in terms of digital transformation, with successful implementation of almost all elements of the Healthcare Information System (HIS) in all its healthcare facilities across the country. Composed of Electronic Medical Records (EMR), Inpatient Medical Ordering System, Picture Archiving and Communication System (PACS) for radiology, Laboratory Information Management System (LIMS), and an administrative module including patient registration, visit bookings, billing, payments and reporting functions. Our HIS, developed fully in-house, is based on the best western practices, allows automation of all major processes, provides decision support for doctors and nurses, and is integrated with all domestic mandatory services required by the State.

As part of new growth opportunity, the initiative for investing in digital innovations in healthcare beyond its core and traditional business lines, the Group successfully launched an innovative, fully integrated digital healthcare platform, involving all components and segments of the healthcare ecosystem: doctors, clinics, laboratories, radiology units, retail pharmacies and medical insurance. The platform, called “EKIMO”, is fully independent of GHG’s existing businesses and is open for all providers in the country.

We have grown our asset base from GEL 109.2 million (as at 31 December 2011) to GEL 1,367 million (as at 31 December 2020). For each acquisition or development, we form a multi-disciplinary integration team of senior executives covering the healthcare and pharma services, engineering, operations, finance, human resources, public relations, commercial and sales and legal functions. The team monitors and coordinates the integration process following established procedures.

During 2020, the major part of our recent capital investment programme was completed and GHG makes good progress in each business segment to deliver earnings momentum, strong cash generation and an improved return on capital invested.

2020
  • Following the largest shareholder’s, Georgia Capital’s (GCAP), All Share Offer http://ghg.com.ge//firm-offer cancelled the listing on the premium segment of the London Stock Exchange’s main market
  • Sold equity interest in High Technology Medical Centre University Clinic (HTMC), one of the lowest return generating assets across our hospital business to Tbilisi State Medical University 
2019
  • Launched independent, fully integrated digital healthcare platform “EKIMO”, which combines all components of the primary healthcare

  • Pharmacy and distribution business signed a franchise agreement with international cosmetics brand The Body Shop

  • Completed GHG’s capital framework review and announced the Group’s first dividend

2018
  • Opened Regional Hospital (formerly "DEKA") with 306 beds
  • Launch of a new polyclinic
  • Launch of Mega Laboratory
  • Entrance into Georgian dental service market
2017
  • Acquired ABC, fourth largest pharmaceutical retailer and wholesaler in Georgia
  • Opened Tbilisi Referral Hospital (formerly “Sunstone”) with newly renovated 332 beds
  • Acquired and launched new Polyclinics
  • Acquired Khashuri Referral hospital
  • Acquired Qareli Community clinic hospital
2016
  • Acquired GPC, third largest pharmaceutical retailer and wholesaler in Georgia
  • Bought out 33.3% minority shareholding of its largest pediatric hospital, Iashvili referral hospital
  • Launch of six polyclinic clusters
2015
  • Acquired a 95% equity interest in Deka LLC, an 80 bed hospital with capacity to develop 320 beds
  • Acquired a 50% equity interest in GNCo, a 450-bed major and well-established referral hospital in Tbilisi
  • Georgia Healthcare Group PLC successfully completed its initial public offering of ordinary shares at the Premium Segment of London Stock Exchange on 12 November 2015
  • Launch of three new polyclinic clusters
2014
  • Buy-out of a 49% minority shareholder of healthcare subsidiary My Family Clinic, making MFC a wholly-owned subsidiary
  • Acquisition of Sunstone Medical LLC, a company that owns hospital in East Tbilisi and has an estimated capacity of 332 beds
  • Launch of a new polyclinic clinic in Tbilisi
  • Acquisition of a 60 bed hospital in Tbilisi with particular expertise in traumatology
  • Reorganisation of Aldagi into a pure-play healthcare business (GHG, comprising of Evex and Imedi L) and P&C insurance business (Aldagi)
  • Acquisition of Avante Hospital Management Group that owns four hospitals, with a total of 578 beds, located in Tbilisi and Batumi
2013
  • Launch of four new hospitals and one polyclinic cluster
  • Acquisition of a 60-bed high-end, multi-specialty hospital in Tbilisi (Caraps)
2012
  • Launch of six new hospitals
  • Acquisition of Imedi L, one of the leading insurance companies in Georgia (addition of ten new hospitals)
2011
  • Acquisition of Partner, the 12th largest insurer in Georgia with a 1.3% market share by revenue in the non-life market
  • Acquisition of 11 new hospitals in West Georgia (Block)
2010
  • Investment in building five community hospitals and one referral hospital
2008
  • Acquisition of a multi profile hospital in Kutaisi, West Georgia
2006
  • Acquisition of Aldagi, then the leading insurance company in Georgia
  • Entrance into healthcare services business by opening an polyclinic in Tbilisi
2005
  • Acquisition of insurance company Selbi
  • Acquisition of Europace, a leading Georgian insurance company, becoming the second largest insurer in Georgia as a result of this transaction
2004
  • Acquisition of BCI, one of the leading insurance companies in Georgia
  • Build on the strategy of an integrated business model for the Bank of Georgia
Led by a highly experienced management team, GHG has successfully acquired and integrated more than 25 companies in the hospital and insurance sectors over the past decade