Bank of Georgia subsidiary acquires 300-bed hospital

23rd May 2014 07:56

Bank of Georgia Holdings on Friday said its wholly-owned healthcare subsidiary, Aldagi, has acquired Sunstone Medical, which owns a hospital in East Tbilisi with an estimated total development capacity of 300 beds. The property, which is a long-established and well-known hospital in Tbilisi that hasn't been operational for several years, will provide Aldagi with "a competitive advantage" in tapping into the East Tbilisi patient segment, as well as referrals from East Georgia.Following the acquisition and anticipated development of the new hospital, Aldagi will have 37 healthcare facilities and 2,207 hospital beds in Georgia, representing a market share of approximately 23% in terms of hospital beds."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", said Irakli Gilauri, the Chief Executive Officer of Bank of Georgia.NR