Business | Investment
Abraaj Capital teams up with Turkey's Acibadem
Abraaj Capital said it has partnered with Acibadem Healthcare Services, Turkey's leading healthcare provider, to support its ongoing expansion in Turkey and establish the company's presence in the Middle East.
- Staff Report
- Published: 23:39 January 29, 2008
Dubai: Abraaj Capital said it has partnered with Acibadem Healthcare Services, Turkey's leading healthcare provider, to support its ongoing expansion in Turkey and establish the company's presence in the Middle East.
Almond AS, a 50:50 joint holding company formed by Abraaj Capital and Mehmet Ali Aydinlar, one of the founders and the chief executive of Acibadem, recently acquired a 69.6 per cent stake in the Turkish firm.
Abraaj also acquired a 50 per cent stake in leading Turkish health insurance company Acibadem Sigorta, from Aydinlar. Abraaj's investment was made through its $2 billion Infrastructure and Growth Capital Fund.
The partnership between Acibadem and Abraaj Capital will accelerate the development of the healthcare group in Turkey and facilitate the long-term expansion of its healthcare services in the Menasa region, where the existing supply of high-quality medical services is generally insufficient.
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