Dubai: Private equity firm Abraaj Capital said on Tuesday that it has completed divesting its 50 per cent shareholding in Acibadem Saglik Yatirimlari Holding and affiliated companies (Acibadem) to Integrated Healthcare and Khazanah Nasional.
Under the terms of the agreement, Integrated Healthcare and Khazanah have acquired a combined 75 per cent shareholding in Acibadem from Abraaj Capital and the Aydinlar family through a combination of cash payment and the exchange of newly issued Integrated Healthcare shares.
With the conclusion of this transaction, Abraaj Capital emerges as a shareholder in Integrated Healthcare which will become one of the largest private health care providers in the world, with a broad footprint of assets in Malaysia, Singapore, India, Turkey and an operating presence in China, Brunei, Abu Dhabi, Central and Eastern Europe.
Since the time of Abraaj Capital's investment, Acibadem has grown to become one of Turkey's largest private health care groups. The group's operational presence grew from six to 14 hospitals and bed capacity increased from 750 to more than 1,850 in four years.
"Our investment in Acibadem validates our thesis of investing in high growth regions and high impact sectors. We remain committed to our existing investments in Turkey and to capitalising on the promising opportunities that lie ahead. Equally, we are very excited about our partnership with Khazanah and Mitsui and look forward to a long lasting and rewarding collaboration," said Arif Naqvi, founder and group chief executive of Abraaj Capital.