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Sayali LLC And AHMC Announce Loan Agreement With OPIC To Fund American Hospital Tbilisi Projected To Open In 2016

TBILISI, Georgia – July 28, 2015Sayali Ltd. and the Overseas Private Investment Corporation (OPIC) have reached a financial agreement to develop the first American-funded and managed hospital in Georgia, which will be operated by American Hospital Management Company (AHMC). The hospital will be called the American Hospital Tbilisi (AHT). Mamed Suleimanov, Director of Sayali, Greg Kuntz, AHMC’s Executive Vice President, and Kenneth Angell, OPIC Managing Director of Project Finance, met in Tbilisi recently to move toward disbursement of USD 18 million in OPIC financing of the total project costs of USD 31 million. The parties plan for a formal event later this year to officially announce the project and status of construction, which is currently underway in Tbilisi.

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The origin of the project dates back to 2011 when Sayali Ltd. secured privatized land and buildings located at 58, D. Uznadze Str. and 17, U. Chkheidze Str., Tbilisi, the site of the former Maternity Hospital #2 and the Traumatology Hospital. In place of those outdated facilities, the AHT, which is currently under construction, will specialize in cardio surgery and neuro surgery. The modern, 100 bed tertiary care facility will be managed and operated by AHMC, a Washington, DC based hospital management company with more than 30 projects operating and in development around the world. AHT is expected to be completed in mid-2016 and will employ 700 medical and support professionals once the hospital is operational.

This momentous agreement will bring American expertise to the market, as AHT will not only be the first healthcare facility in the Georgia to be operated by an American hospital management company, it aims to be the first to earn the prestigious accreditation of the Joint Commission International.

“The Georgian market expressed a desire for local access to American healthcare standards in a modern, world-class hospital, and we are honored to be in the position to deliver it to them. We are excited to be able to work with OPIC and AHMC to deliver this to the people of Tbilisi,” stated Mr. Suleimanov.

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