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Proparco to fund Evex $ 25 mln

Proparco to fund Evex $25 mln

Georgia Healthcare Group PLC (the “Group” or “GHG”) announces that its healthcare services business subsidiary (“Evex”), the leading private healthcare service provider in Georgia, and the European Development Financial Institution, Société de Promotion et de Participation pour la Coopération Economique (“Proparco”) have signed a US$ 25 million loan agreement.

The maturity of the loan is determined by eight-years. The loan will enable Evex to finance its development programme that includes the expansion of an ambulatory clinics network and the development of new hospitals as well as healthcare services, throughout the country.

“The new funding from Development Financial Institutions helps us to build a longer-term, less expensive funding profile. This financing enables Evex to benefit from Proparco’s experience in supporting a sustainable development of the healthcare sector. It helps us to renovate Deka and Sunstone hospitals, launch ambulatory clinics and a large number of new healthcare services at our facilities, this way contributing to the successful implementation of our strategy”,- Nikoloz Gamkrelidze, CEO of Georgia Healthcare Group noted.