Argus Capital and Qatar First Investment Bank have acquired a 40 per cent minority stake in Memorial Healthcare Group, a Turkish healthcare provider.
Memorial operates three hospitals and two medical centres in Istanbul and one hospital in Antalya.
Turgut Aydın and his family maintain 60 per cent of the group’s shares.
Ahmet Yaşar Aydın, Memorial Healthcare Group vice president of board of directors, says: “We are pleased with Argus Capital’s and Qatar First Investment Bank’s interest in Memorial as they’re partnering with us as investors that we consider them very close to ourselves. Qatar First Investment Bank, with its diversified shareholder base, has a solid fame as the rapidly growing bank. Argus Capital is supported by the leading corporate investors of the world and family companies. The experiences and unique specialty of our new partners will contribute much to the Memorial Healthcare Group.”
Abdullah Bin Fahad Bin Ghorab Al Marri, the president of Qatar First Investment Bank, says: “Healthcare sector is one of the key sectors for QFIB. It is a growing and a vital sector, despite the economic crises, in Middle East and North Africa region. It is very important for us to become shareholders in Memorial that is one of the largest health groups in Turkey which is the most strategic country in Europe and Middle East and attracts attention with the growing huge enterprises in healthcare sector. This is an open indication of the fact that we want to be diversified with this investment and to locate ourselves in the healthcare sector.”
"We consider the investment in Memorial as our landmark entry to the Turkish market which we have been actively focusing on in the past three years, and we are excited about Memorial’s remarkable development and future growth potential which we shall work together with our partners, the Aydin Family, QFIB and Memorial’s Management to realise," adds Ali R. Artunkal, managing partner of Argus Capital.
Argus Capital is a private equity fund focusing on Central and Eastern Europe.
