CEO: Georgia Healthcare Group well positioned for the next few years

Georgia Healthcare Group (GHG) has had a solid 2016, as it included for the first time, the pharmaceutical retail and wholesale sector.

The group’s normalised net profit was GEL 39.6 million1 (€14.26M),  which is up 117.8% year over year.

Financial performance of the pharmaceutical sector since the acquisition of JSC GPC (GPC) in May 2016 saw revenue of GEL 133.0 million (€47.66M) and net profit of GEL 1.9 million (€680.812). In the last quarter of 2016, the revenue was up 23% from the same period last year, to reach GEL 56.6 million (€20M), and net profit for the quarter skyrocketed in percentage of 174% compared to the same period last year, of GEL 1.7 million (€609,147).

GHG in 2016 acquired JSC GPC, one of the largest retail and wholesale pharmacy chains in Georgia with a network of 118 pharmacies in major cities. In January 2017, the Group completed the acquisition of the Pharma-depot chain of pharmacies – the fourth largest pharma retailer in Georgia (operating with 125 pharmacies by 2016) – which has made GHG the market leader in the pharma segment in Georgia, with about one third of market share by revenue.

“The rapid roll-out of our nationwide ambulatory clinic model, and our significant new participation in the Georgian pharmaceuticals market will continue to create further business development and cost efficiency opportunities over the next few years,” said the group’s CEO Nikoloz Gamkrelidze.