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Healthcare Group Buys Batumi Psychiatric Hospital for 2.5 million GEL

Healthcare Group has bought Batumi Psychiatric Hospital, Ajara Government press service reports.

Term electronic auction finished on January 11. A total of 762 bids were made during the auction. The new owner paid 2.5 million GEL for 100% stake of the hospital.

Ministry of Finance and Economy put out the mentioned facility for electronic term auction at 100 000 GEL.

Under the auction terms, the new owner must launch reconstruction/repair works in no later than 8 months. The works must end in no later than 36 months. The new owner must also maintain the profile of the building (medical-psychiatric) for 50 years. Moreover, the winner body must pay the value of the building within 30 calendar days after agreement signature.