Georgia’s private healthcare service Georgia Healthcare Group (GHG) has published its first quarter figures, showing a strong growth. Opportunities are seen in further developing medical tourism.
‘Our first quarter performance demonstrates the start of our capturing the benefits of our last few years’ investments,’ said chief executive officer Nikoloz Gamkrelidze. ‘We see double-digit growth opportunities throughout the business over the medium-term, from leveraging the strength of our existing franchise without having to make significant further investment capital expenditure.
‘We will continue to build out our growth opportunities, in developing medical tourism, and laboratory diagnostic services, expanding the outpatient clinics and dental services, adding new pharmacies, and new products such as private label products and to develop other new opportunities. As a result, we are strongly positioned to grow the business, improve our operating cash flows, reduce balance sheet leverage and continue to achieve improved returns on invested capital,’ he added.
GHG owns 37 hospitals and 16 district polyclinics in Georgia. It accounts for 25% of total hospital bed capacity in the country. It is also the country’s largest pharmaceuticals retailer and wholesaler with approximately 30% market share by revenue. GHG is also the second largest provider of medical insurance in Georgia with a 27% market share.