Who Owned Georgia English.pdf

to construct manufacturing sites and in 2005 it released its firstmedicines on the market under its brand, Aversi Rational. 209This doesn’t mean it actually produces its own medicines, it onlypackages pre-manufactured medical products 210 . Aversi is one ofthe largest taxpayers in Georgia and contributes tens of millionsof GEL to the state budget annually 211 . It has seven functioningclinics in Georgia and has two more under construction. Aversibuilds and manages hospitals, some of which were bought fromthe government under the hospital privatization plan. Italso hasits own insurance company, Alpha, which has been providingsocial insurance funded by the government for large parts ofthe country. 212 Aversi founder, Paata Kurtanidze, owns 67%of its shares, while the remaining 33.3% is owned by NikolozKurtanidze 213 , a former director of an automobile factory and anauthor.PSP was founded in 1995 as an importer/distributor ofmedicines and expanded to the retail market in 1999. PSP’smanufacturing brand, GMP, produced its first medicine in1999. 214 In addition to packaging its own brand, GMP also doesformulation 215 , which means it makes tablets of pre-producedactive substances. PSP owns a multi-profile hospital in Tbilisi209 Ibid210 Komsa International (2011) Investment Guide; Opportunities in Georgia’sPharmaceutical Sector, in cooperation with the government of Georgia, Dec.2011 http://www.investingeorgia.org/upload/file/Opportunities_in_Georgias_Pharmaceutical_Sector.pdf Accessed 05/12/2012211 Ibid212 Information provided by the Ministry of Labour, Health and Social Affairs ofGeorgia.213 Public Registry. Ministry of Justice of Georgia, 07/11/2012 https://enreg.reestri.gov.ge/main.php?c=mortgage&m=get_output_by_id&scandoc_id=470812&app_id=546602Accessed on 12/12/2012214 Aversi’ Company Website http://www.aversi.ge/main_racional.php?lang=eng&id=381&cat_id=1&type=3 Accessed 05/12/2012215 Komsa International (2011) Investment Guide; Opportunities in Georgia’sPharmaceutical Sector, in cooperation with thegovernment of Georgia, Dec.2011 http://www.investingeorgia.org/upload/file/Opportunities_in_Georgias_Pharmaceutical_Sector.pdf Accessed 05/12/201252