Ethem Sancak and Muharrem Usta, partners in Turkish medical company Medical Park Hospital Group (MPHG), have signed a preliminary agreement to sell a minority stake to the Carlyle Group, an American private equity firm. The deal gives Carlyle a 40% stake of MPHG for a price of $100 million; Sancak and Usta will retain the remaining 60%. The sale, which is expected to be completed in the near future, follows Carlyle’s first Turkish investment made last year in TVK Shipyard.
Medical Park Hospital Group
Medical Park Hospital Group owns and operates 11 hospitals and 2 hospital complexes in cities throughout Turkey, offering emergency, surgical, pathology, radiology, and a variety of other standard medical services. The company has been operating since 1995 and currently employs 6,000 people including doctors, nurses, and other medical support workers. Company headquarters are located in Istanbul.
The Carlyle Group (www.carlyle.com)
Washington-based Carlyle Group is one of the world’s leading private equity firms with 64 funds and more than 600 current investments. Carlyle’s 475 investment professionals work from 20 offices worldwide, managing assets in excess of $86 billion.
The Company is focusing on aerospace & defence, automotive & transportation, consumer & retail, energy & power, financial services, healthcare, industrial, infrastructure, technology & business services and telecommunications & media.
Carlyle claims nearly 1,300 investors world wide and has itself contributed $3.6 billion to the various funds it manages.