Dubai-based equity firm Abraaj Capital has tied up with Capital Investment, a private institutional investment house in Abu Dhabi, to support the domestic growth and international expansion of Acibadem Healthcare Services, Turkey's leading healthcare provider.
Abraaj Capital and Mehmet Ali Aydinlar, one of the founders and the chief executive officer of Acibadem, have acquired a majority stake in the Turkish firm through a joint venture holding company. The new partnership between Abraaj Capital and Capital Investment will accelerate the development of the healthcare group and facilitate the long-term expansion of its services in the Middle East, North Africa and South Asia regions. Abraaj earlier acquired a 50 per cent stake in Turkish health insurance firm, Acibadem Sigorta, from Aydinlar.
Mustafa Abdel-Wadood, Managing Director, Abraaj Capital, and CEO, Abraaj Investment Management Ltd, said: "Turkey is very much a growth market, strategically placed between Europe and Asia. Healthcare is a service for which there is a growing need and where the potential for expansion, domestically and in the region, is enormous. This partnership with Capital Investment further strengthens Acibadem's ability to serve both its domestic market and enter into the MENASA region."
By Adrian Murphy
© Emirates Business 24/7 2008
