Following a preliminary agreement reached in November, the Carlyle Group has announced the completion of their transaction to acquire a 40% stake in Medical Park HG. Medical Park partners Ethem Sancak and Muharrem Usta retain the remaining 60% of the company.
Carlyle’s investment in the Turkish health care company, the second-largest of its kind in the country, will be used primarily for debt reduction and expansion. Funding for the USD 100 million deal will be provided through the USD 500 million Carlyle MENA Partners fund which closed earlier this year. The MENA management team sees great potential in Turkish markets as the world economies slowly rebound, facilitating this and other investments in the region.
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.
16/12/2009
Central & Eastern Europe, Investment, Private Equity News, Turkey