Turkey’s Memorial Healthcare Group (MHG) as agreed to sell 40% of the company’s shares to Qatar First Investment Bank (QFIB) and London’s Argus Capital. CEO Turgut Aydin will maintain sole ownership of the remaining 60%.
The Aydin family intends to continue with healthcare as its main investment business despite the sale. They have also committed to always maintaining majority ownership of HMG.
Daruma Corporate Finance, a leading Turkish corporate finance company, originated the deal and advised both Argus and QFIB throughout the transaction.
Memorial Healthcare Group (www.memorial.com.tr)
MHG is a healthcare operation established in early 2000, with 3 hospitals and 2 outpatient clinics in Istanbul, and a single hospital in Antalya. Total capacity of the four hospitals is near 700 beds.
In 2002, HMG became Turkey’s first hospital group to earn Joint Commission International (JCI) Accreditation. Their liver and kidney transplants, as well as pediatric liver transplants with blood-type incompatibility, were also a first for a Turkish private hospital.
HMG facilities provide standard medical care in addition to cardiology, brain and neurosurgery, and plastic surgery.
Argus Capital (www.arguscapitalgroup.com)
U.K.-based Argus capital is an independent global private equity firm focusing on opportunities in Central and Eastern Europe. The firm accepts projects in any sector via buy-ins and buy-outs, expansion capital, joint ventures, seed funding, and restructuring.
A typical Argus investment ranges between €4 million and €20 million.
Argus funding is supported by institutional investors from Europe, Japan, the Middle East, and North America. Currently, the firm manages total assets of more than €400 million.
Qatar First Investment Bank (www.qfib.com.qa)
QFIB was launched in March 2009, offering asset management, corporate advisement services, private equity investment and management, and strategic investments. It is the first independent Shari’ah compliant investment bank to fall under the regulation of the Qatar Financial Centre Regulatory Authority (QFCRA). QFIB is supported by more than 1,000 investors from Qatar and the GCC.