GAZELLE FINANCE GEORGIA AND TBC BANK HELP THE WESTERN REGIONAL CENTER OF MODERN MEDICAL TECHNOLOGIES EXPAND ACCESS TO QUALITY HEALTHCARE SERVICES IN KUTAISI, GEORGIA
12 September, 2018
GAZELLE FINANCE GEORGIA AND TBC BANK HELP THE WESTERN REGIONAL CENTER OF MODERN MEDICAL TECHNOLOGIES EXPAND ACCESS TO QUALITY HEALTHCARE SERVICES IN KUTAISI, GEORGIA
TBC Bank and Gazelle Finance have teamed-up to support Medical City, a leading healthcare provider in the western region of Georgia to launch the Western Regional Center Of Modern Medical Technologies. This facility, based in Kutaisi, the regional center of western Georgia, will offer the highest level of medical care outside of the capital city of Tbilisi.

TBC Bank has provided a USD 5.5 million loan to Medical City to finance the initial capital costs of building the medical clinic. Gazelle
Finance is providing an additional USD 1.3 million in growth capital financing to support the acquisition of state-of-the-art medical equipment for the new medical clinic. Many of the services offered by this new medical clinic are not only scarce in Georgia, but largely unavailable outside of the capital city of Tbilisi.

“An important strategic focus for Gazelle Finance is to invest in high impact businesses outside of the capital city of Tbilisi.” said Jeffrey Liebert, CEO of Gazelle Finance. “We are very excited to help such an innovative company as Medical City bring world class medical care to the western region of Georgia.”

“It is an honor for us to partner with Medical City, an important project that significantly improves access to high standard healthcare infrastructure in Georgia and particularly, in the Imereti region.” said George Tkhelidze, Deputy CEO of Corporate & Investment Banking at TBC Bank. “We are looking forward to expanding our successful cooperation with Medical city further in the future.”

The Western Regional Center of Modern Medical Technologies will provide one of the best services in pediatric care in the country of Georgia. The medical clinic will partner with the Turkish healthcare operator “Medical Park”, the largest private hospital chain in Turkey, to enhance the technical capacity of the pediatric services. The partnership will work on a secondment basis, in which leading doctors from various Medical Park clinics throughout Turkey will move full-time to live and work in Kutaisi. An important outcome of this investment is to provide high quality health care locally at affordable prices, which will reduce the numbers of Georgians seeking medical services abroad. As a result of its expansion, the Western Regional Center of Modern Medical Technologies is expected to create more than 120 new high skilled jobs and support know-how exchange and technical capacity development of local doctors and nurses.

“We are proud to have Gazelle Finance and TBC Bank as our partners,” said Gia Grdzelidze, the CEO and founder of the clinic. “We believe this medical clinic will bring world class healthcare services to Kutaisi, become an important economic generator for the region, and provide highly skilled job opportunities to the local residents.”
“We are pleased that our partner Gazelle Finance is investing in medical clinics that will bring high quality, affordable health care services to the regions outside of the capital city in Georgia,” said Jaap Reinking, Director of the Private Equity Department for FMO. “We are proud to contribute to improving access to healthcare as this is an important element to achieve the Sustainable Development Goals.”
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Gazelle Finance
Gazelle Finance (http://gazellefinance.com/, https://www.facebook.com/GazelleFinance/) is a US fund manager managing an impact investment fund called “Gazelle Fund”, including investment capital from OPIC. The fund launched in March of 2017 and currently has operations in Georgia and Armenia.The fund targets the “missing middle”, which consists of small and medium companies, typically in the $100K to $1.0M in financing range, that lack access to growth capital because they are small, highly under collateralized and tend to be an earlier, but high growth stage of development. The fund has a generalist investment strategy.

TBC Bank
TBC Bank is a leading Georgian universal bank headquartered in Tbilisi, Georgia. The Bank was founded in 1992, when two Georgian businessmen Mamuka Khazaradze and Badri Japaridze, along with other Georgian partners founded the bank, Tbilisi Business Centre, abbreviated as TBC. They established the bank with an initial capital of $500, which was the amount required to establish the bank in Georgia in the early 1990s. TBC Bank has successfully completed two mergers with Bank Republic and Bank Constanta. TBC Bank’s mission is to create new opportunities for success of people, ideas & businesses and the vision is to be the best digital financial service provider in region.

Western Regional Center Of Modern Medical Technologies
The Western Regional Center of Modern Medical Technologies LLC is a multi-disciplinary medical clinic. The new medical clinic is 100% owned by the existing hospital operator Medical City, located in Kutaisi.. Due to high demand for modern healthcare services in the Western region of Georgia the management decided to expand the hospital and build a new facility in 2017 and will officially launch operations in October of 2018.

FMO is the Dutch Development Bank based in the Hague, the Netherlands. FMO´s mandate is to provide long term capital for projects in countries in which commercial investors do not yet dare to invest. FMO invests risk capital in companies and financial institutions in developing countries. FMO has a strict policy on maximizing development impact with a methodology designed to make sure that FMO's return on investment is not just financial but also has positive environmental and social effects. FMO invests in over 85 countries, supporting jobs and income generation in order to improve people's lives in the parts of the world where they can make the biggest difference.

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