Turkey's Acıbadem plans to acquire an 80% stake in the Bayındır group for a sum of $55 million.
Acıbadem, the largest hospital operator in Turkey, has announced its acquisition of an 80% stake in Bayındır Healthcare Group for $55 million. This deal values Bayındır Healthcare Group at $80 million [1][2].
With this acquisition, Acıbadem will operate 29 hospitals in Turkey, marking a significant expansion of its presence in the country. The three Bayındır hospitals included in the deal have not been specified [1].
Mehmet Ali Aydınlar, the chairperson of Acıbadem, made the announcement on Tuesday. The acquisition does not affect the ownership structure of Acıbadem, as it is still majority-owned by IHH Healthcare Berhad, a Malaysian company [1].
Isbank, the lender that sold the stake, will retain a 20% stake in Bayındır Healthcare Group and continue to be active in the hospital field. Hakan Aran, the chief executive of Isbank, will remain on the board of Bayındır [1].
Under the new ownership, the facilities under Bayındır Healthcare Group will operate under the combined “Acıbadem-Bayındır” brand, with plans for expansion and new facility development led by Acıbadem [2].
This acquisition represents a shift in Isbank's role from majority owner to a strategic minority shareholder with board representation. Isbank will continue to have an active role in the healthcare sector, influencing governance and strategic decisions [1][2].
In addition to operating hospitals, Acıbadem also provides various health care services in Turkey [1]. The details of the valuation do not include a breakdown [1][2].
[1] Hurriyet Daily News. (2022, March 22). Acıbadem to buy 80% stake in Bayındır Healthcare Group for $55 million. Retrieved from https://www.hurriyetdailynews.com/acibadem-to-buy-80-stake-in-bayindir-healthcare-group-for-55-million-178909
[2] Anadolu Agency. (2022, March 22). Acıbadem to buy 80% stake in Bayındır Healthcare Group for $55 million. Retrieved from https://www.aa.com.tr/en/economy/acibadem-to-buy-80-stake-in-bayindir-healthcare-group-for-55-million/2245674
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