EBRD Georgia supports innovation in the Aesthetic Medicine industry by signing the third Blue Ribbon project with Aptos

Aptos, has become 2020 Blue Ribbon champion. EBRD First Vice President Jurgen Rigternik signed the agreement along with George Sulamanidze, General Director of Aptos, during his recent trip to Tbilisi on March 6.

Georgia ASB team started working with Aptos in 2017, through advisory services to help the company improve its management effectiveness by developing appropriate business model, expanding product portfolio and implementing a franchise system for Aptos products and services. The successful implementation of the first stage of the advisory in 2018 led to the company signing up for the International Advisory project to improve the company’s strategic approach on regional and global level, and updating the organisational structure including the HR operations, as well as develop long-term sales plan while continuing to improve business processes and distribution management.

Aptos is a family-owned business found by Mr. Marlen Sulamanidze, a famous Georgian plastic surgeon, and his two sons, also plastic surgeons Dr. George Sulamanidze who acts as the CEO of the company, and Dr. Konstantin Sulamanidze. The company is the leader in the beauty and aesthetics industry and is a manufacturer of a barbed thread and other unique materials used in plastic surgery and cosmetology. 

Aptos’s products and methods of treatment gained world recognition and are successfully used by the aesthetic physicians in 71 countries worldwide. The company sells its products directly and through distributors globally. The family ‘trio’ received many prestigious international awards and 18 patents for invention and innovation.

Aptos is an international brand originated in Georgia, with production facilities based in Georgia, Russia, and Germany. The company's clinics operate in Russia, Georgia and Czech Republic. It now has an ambition to expand further in Europe, as well as in the US, Brazil and China. This is a true success story. EBRD is proud to support the development of the local brand set to become a global player. 

Following the successful implementation of the Advisory project, Georgia ASB team referred the company to the EBRD bankers which resulted in them signing the loan for Aptos via the Risk Sharing Facility with TBC Bank in and in December 2019. The loan is financing capital expenditures related to the construction of new energy efficient production facilities.

Mr. George Sulamanidze emphasised during the signing ceremonial that the EBRD Advisory initiative brought to them wealth of knowledge in terms of management and structure and helped them overcome weaknesses. It has also helped the company identify its strengths and define its market position which allowed it to mitigate future risks better. When they thought it could not get better the EBRD approached the company to support the project not just with the know-how but also with financing. At this stage, he understood that his family managed to build a truly great brand and business that will never stop to innovate, expand, and strive to make humans beautiful, at least, from the ‘outside’.