BGEO Group PLC (“BGEO” or the “Group”), the holding company of JSC Bank of Georgia (“the Bank”), Georgia’s leading bank, announces that its healthcare subsidiary, Georgia Healthcare Group PLC ("GHG"), has today announced that it has signed a binding Memorandum of Understanding, subject to relevant regulatory approvals, to acquire a 100% equity stake in JSC GPC (“GPC”), one of the top three pharmaceutical retailers and wholesalers in Georgia.
The acquisition of GPC supports GHG’s expansion strategy and its aim to be the leading integrated player in the Georgian healthcare ecosystem of GEL 3.4 billion value. It positions GHG as the major purchaser of pharmaceutical products in Georgia, and provides a platform which offers significant synergy potential.
GHG’s announcement is available at the following link: http://ghg.com.ge/news
GHG’s announcement outlines the details of the GPC business, together with transaction highlights and the rationale for the acquisition.
