Arab Today, arab today healthcare giants eye key stake in turkey\s largest hospital chain
Last Updated : GMT 02:18:28
Arab Today, arab today
Arab Today, arab today

Healthcare giants eye key stake in Turkey\'s largest hospital chain

Arab Today, arab today

Arab Today, arab today Healthcare giants eye key stake in Turkey\'s largest hospital chain

Istanbul – Arabstoday

Parkway Holdings, Life Healthcare Group Holdings and Fortis Healthcare International are among suitors for a stake in Turkey\'s largest hospital chain, Acibadem Saglik Hizmetleri & Ticaret, said three people with knowledge of the sale process. Buyout firms that may bid include Cinven and CVC Capital Partners, said the people, who asked not to be identified as the process is private. Dubai-based Abraaj Capital, which owns 46 per cent of Acibadem, hired Goldman Sachs Group and Bank of America Merrill Lynch in June to study options for the stake. Acibadem has a market value of 1.8 billion lira (Dh3.67 billion). Abraaj may prefer to sell the shares in the Istanbul-based hospital operator to another healthcare company rather than an investment fund, though bids haven\'t been collected yet, two of the people said. Acibadem runs 11 general hospitals, eight medical centres and a laboratory and genetic diagnostic centre in Turkey, according to its website. Acibadem was unchanged at 18.20 lira at 2:58pm in Istanbul trading. Abraaj and the Aydinlar family each own half of Almond Holding, which in turn owns about 92 per cent of Acibadem. The Aydinlar family is not involved in the sale, Acibadem Chairman Mehmet Ali Aydinlar said yesterday in a telephone interview. \"Abraaj is selling its stake only, and I know there\'s lots of interest from all over the world,\" he said. Two calls to Abraaj\'s Turkey manager, Selcuk Yorgancioglu, weren\'t answered. Representatives at Parkway, the hospital operator owned by Malaysian sovereign wealth fund Khazanah Nasional Bhd, CVC, Cinven and Life Healthcare declined to comment. Vishal Bali, chief executive officer of Fortis\'s global healthcare unit, did not respond to two e-mails and a call seeking comment. A sale agreement may be reached by the end of the year, one of the people said.

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