23rd May 2014 09:01
LONDON (Alliance News) - Bank of Georgia Holdings PLC Friday said it has acquired a 100% equity interest in Sunstone Medical LLC, which owns a hospital in East Tbilisi with an estimated total development capacity of 300 beds.
In a statement, Bank of Georgia said the acquisition was made through a subsidiary of its healthcare and insurance business, Aldagi, and hopes the deal will give it competitive advantage.
The holding company has been scaling up its healthcare business by acquiring hospitals in Tbilisi. After acquiring and renovating its latest hospital, which isn't currently operational, Aldagi will have 37 healthcare facilities and 2,207 hospital beds in Georgia.
"I am very pleased to continue the year with this strategic acquisition which complements our current portfolio of clinics in Tbilisi and is in line with our strategic objective to further enhance our Georgian healthcare market share," Irakli Gilauri, chief executive," said in a statement.
Bank of Georgia shares were Friday quoted at 2,524.07 pence, down 0.2%.
By Samuel Agini; [email protected]; @samuelagini
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