Investor Presentaiton
Private large
portfolio companies
EXTERNALLY VALUED
GEORGIAN HEALTHCARE MARKET OVERVIEW
GROWTH IN HEALTHCARE SERVICES MARKET EXPECTED TO CONTINUE
Total Market CAGR 2011-2019 of 13%
GEORGIA
CAPITAL
STATE HEALTHCARE BUDGET IS INCREASING FOR THE LAST SEVERAL YEARS
GEL million
11%
11%
10%
9%
9%
9%
9%
Double digit growth on the back of favorable dynamics expected
Total Market growth
of 8% 2020-2021
% growth
State healthcare spending dynamics
'20-'21
4,765
4,397
4,062
10%
3,760
968
3,488
884
3,062
3,218
806
734
669
2,464
607
2,034
696
1,722
1,611
1,504
7%
1,716
1,552
543
1,311
1,404
438
1,217
1,092
343
305
908
782
675
714
573
659
814
1,013
1,273
1,395
1,508
1,622
1,752
1,903
2,075
9%
2011
2012
2013
2014
2015
2016
2017
2018E
2019E
2020E
2021F
Pharma
Hospitals
Polyclinics
I State Healthcare Spending - UHC
State Healthcare Spending - Other
800
964
681
760
829
710
1,326
574
841
281
343
305
329
349
2015
2016
2017
2018
2019
2020 A
2021B
The country's expenditure on healthcare - c.
8% of GDP;
c. 40% of the total healthcare expenditure is
financed by the State;
Government expenditure on healthcare as a
% of GDP reached c. 4% from 1.6% in 2013;
Government spending on healthcare
accounts for 11% of the total budget;
In 2020 increase in Other State Healthcare
Spending is due to the evolved COVID-19
pandemic.
GEL million
Source: Frost & Sullivan analysis 2017
Hospital's market includes revenue of c. 10% from specialty beds, which is non-addressable market for GHG
Polyclinics market excludes dental and aesthetic services
Outpatient visits per capita, 2014-2016
7.02 EU average
4.4
3.9
4.0
4.1
3.2
2.5
8.4
7.4
-=
Healthcare spending as a % of total state spending
Source: Ministry of Finance of Georgia
LONG-TERM, HIGH GROWTH PROSPECTS
Bed occupancy rate by country, 2014-2016
88%
88%
10.0
70%
68%
68%
65%
65%
South
Africa
Thailand Georgia
US
UAE
Malaysia Poland Turkey
Russia
UK
Russia Thailand Turkey Malaysia South
US
S
Africa
Source: Frost & Sullivan analysis 2017
53%
50%
49%
US$
Per capita expenditures on healthcare by country, 2014-2018
9,403
3,935
910
893
570
568
456
308
228
75
Georgia
UAE
Poland
US
UK
UAE Poland Russia
South
Africa
Turkey Malaysia Georgia Thailand India
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