Healthcare services provider Georgia Healthcare Group PLC said on Monday it has acquired the Khasuri and Qareli community hospitals through its healthcare services business from Georgian insurance company IC Group for GEL10.0 million in cash.
The two hospitals are located in the Khashuri and Qareli areas of Georgia, both in the Shida Kartli region and operates with 65 and 25 beds respectively, as the sole healthcare providers in both areas.
Following the acquisition, Georgia Healthcare now owns 22 community hospitals, representing 555 beds in total.
“I am very pleased to announce the acquisition of these two community hospitals, which expands our healthcare services business coverage in these strategically important locations, where we previously had no presence. The hospitals have favourable locations to capture the major traffic from the new central highway at the same time as being the sole healthcare service providers in these regions. The transaction further enables us to refer patients to our referral hospitals, primarily in Kutaisi and Tbilisi, thus providing potential revenue synergies,” said Chief Executive Officer Nikoloz Gamkrelidze.
Shares in Georgia Healthcare Group were untraded on Monday, last quoted at 360.00 pence.