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Carlyle acquires 40 per cent stake in Turkish healthcare company

Global private equity firm The Carlyle Group has acquired a 40 per cent stake in Medical Park Sağlık Hizmetleri, Turkey’s second largest healthcare services company. 

The founding shareholders, the Sancak and Usta groups, will remain as significant investors in Medical Park.

Carlyle’s all-equity investment will be used primarily to finance the hospital company’s continued expansion and reduce debt.
Can Deldağ (pictured), Carlyle managing director and head of the Turkish investment team, says: "We, as Carlyle, are very pleased to invest in a strong, growing company like Medical Park. The Turkish healthcare services sector shows great promise as patient demand for services has been high and is expected to grow steadily."
Dr. Muharrem Usta, chief executive officer and co-owner of Medical Park, says: "Carlyle’s financial and institutional support, combined with Medical Park management’s unique healthcare industry expertise, will foster our growth strategy and further develop our facilities to world class standards."
Medical Park was established in 2005 with two existing hospitals based in Istanbul dating from the mid-1990s. Through the development of new hospital projects in cities in Western Turkey, and the acquisition of single hospitals based in North and East Anatolia, Medical Park now owns and operates 13 hospitals with 2,000 beds.
Equity for this investment, Carlyle’s second in the Mena region, will come from Carlyle Mena Partners, a USD500m growth capital and buyout fund that closed in March 2009.

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