Wednesday, Apr 10, 2013
DUBAI (Zawya Dow Jones)--Gulf Capital, an Abu Dhabi-based private equity firm, has acquired a 75% stake in a Turkish outsourced diagnostic imaging company through one of its portfolio companies, it said Wednesday.
Techno Group Investment Holdings, the portfolio company, bought its stake in Dogu Tip as part of a strategy to latch on to expansion in Turkey's healthcare sector, Gulf Capital said in an emailed statement. Private equity firms in the Middle East have made Turkey a prime target for investment in recent years, attracted by its strong economic growth and relative political stability.
Gulf Capital did not disclose the financial terms of the transaction, but said the acquisition added five medical imaging centers to Techno Group's existing operations in Egypt, Jordan and the Arab Gulf. Following the purchase, "there are plans on expanding further through acquisitions, organic growth and geographic expansion," the statement said.
Write to Asa Fitch at asa.fitch@dowjones.com
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(END) Dow Jones Newswires
10-04-13 0718GMT
