Strategic Report 01 Strategy 02 03 04 Unlocking the value of an integrated business model GHG is the only integrated healthcare provider in the region with extraordinary visibility and presence in the entire Georgian healthcare ecosystem. Extracting value from this integration will be the main target for the Group in the coming years. In 2018, GHG served around two million unique customers along its business lines, while the share of the patients using more than one segments of our business, pharmacies and healthcare facilities, accounted for only 13%. One of our long-term growth strategies is to capitalise on the main advantage of our business model – ability to manage customers on an integrated level. Enhancing digital channels and developing a fully cohesive health information system, will help us manage operations more efficiently and deliver a better care to our customers. Having completed our intensive three-year capex programme, we are now focusing on improving cash flow generation and return on invested capital by applying various efficiency measures across the Group. From a clinical perspective, we continue to grow a new generation of doctors and nurses while building robust clinical quality management processes. Our medium-term goals remain knowledge and expertise advancement through education and professional development of our physicians and nurses. Quality assurance through introduction and improvement of various activities and processes at a larger scale within our healthcare facilities remains top priority for us, so that we can deliver better care to our patients. Referral Community Pharmacy Medical hospitals clinics Polyclinics and insurance Segment distribution Market share targets by By revenue | Beds By revenue By revenue By revenue addressable markets Now c.22% | 25% c.3% 30% 27% Long-term c.30%+ c.15+% 30%+ 30%+ P&L targets 9%+ Combined ratio in medium Gradually improving to c.30% EBITDA Margin EBITDA Margin <97% to long term 35