Geo Hospitals will acquire multi-profile clinic Amtel Hospital with 210 beds, - according to the document published by the Georgian Competition Agency.
“The Georgian National Competition Agency has started administrative proceedings regarding the merger of two medical companies. The merger of the mentioned companies is planned after the purchase of 100%-share of Amtel Hospital First Clinic by Geo Hospitals Ltd.
As of the previous financial report, the annual turnover of each company is more than 5 million GEL.
Geo Hospitals Group is one of the largest medical holdings in the country, with a total of more than 600 beds in its clinics. According to the company report, their clinics provided 78,000 inpatient and 551,000 outpatient services across the country in 2020.
According to the group's financial report, in 2020 their revenue was GEL 53.4 million and their loss was GEL 13 million. The group is led by Nina Kobakhidze. Businessman Davit Bezhuashvili owns a 50% stake in Geo Hospital's parent company, while Zaza Nishnianidze and Kakhaber Lomsadze own a 25-25% stake.
As for Amtel Hospital, the income of the clinic in 2020 was 10.8 million GEL, and the profit was 241 thousand GEL.
