|
Dubai: Abraaj Capital yesterday said it has entered into a strategic partnership with Capital Investment LLC, a leading private institutional investment house based in Abu Dhabi.
The deal aims at supporting the domestic growth and international expansion of Acibadem Healthcare Services, Turkey's leading healthcare provider, which is one of Abraaj Capital's portfolio companies.
Abraaj Capital and Mehmet Ali Aydinlar, a founder and the Chief Executive Officer of Acibadem, earlier acquired a majority stake in the Turkish firm through a joint venture holding company.
The new partnership between Abraaj Capital and Capital Investment will accelerate the development of the healthcare group and facilitate the long-term expansion of its healthcare services in the Menasa region (Middle East, North Africa South Asia region), where the existing supply of high-quality medical services is generally insufficient.
Stake acquired
Abraaj Capital also earlier acquired a 50 per cent stake in leading Turkish health insurance company, Acibadem Sigorta, from Aydinlar. Abraaj Capital's investment was made through its $2 billion Infrastructure and Growth Capital Fund (IGCF).
Acibadem, the only healthcare institution whose shares are traded on the Istanbul Stock Exchange, was founded in 1991 and is part of a premium integrated healthcare platform that provides secondary and tertiary private healthcare services, laboratory services, health and life insurance, hospital project management and hospital facilities management services.
Capital Investment LLC is a subsidiary of Abu Dhabi Capital Group, which has strategic interests in financial and real estate. Hafsa Al Ulama, Managing Director of Abu Dhabi Capital Group, said: "Our goal is to identify and execute value investments in the healthcare, education and infrastructure sectors, and we are pleased to partner with Abraaj Capital in this acquisition."
|
