6th Mar 2014 08:23
LONDON (Alliance News) - Bank of Georgia Holdings PLC said Thursday its healthcare subsidiary has increased its stake in Avante Management Group to 100%.
Unimed Kakheti LLC is a wholly-owned healthcare subsidiary of JSC Insurance Company Aldagi, the Bank of Georgia's healthcare and insurance subsidiary.
Bank of Georgia said the company has increased its interest in Avante from 80% to 100% in March 2014 after acquiring the initial 80% in February this year.
Avante owns four hospitals in Tbilisi and Batumi and is the second largest healthcare provider in Georgia by number of beds, after Aldagi. Following the acquisition, Aldagi has 36 healthcare facilities and 1,907 hospital beds in Georgia.
Shares in Bank of Georgia were trading up 1.93% at 2,318 pence per share Thursday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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