IHH Healthcare subsidiary Acibadem Healthcare Group has announced that it has entered definitive agreements to acquire 100% of Kent Health Group, a leading private healthcare service provider in Izmir, Turkey.
Izmir Kent Hospital will be Acibadem’s 19th hospital in Turkey and its 25th globally. The number of medical centres in Acibadem’s network will increase to 16 with this acquisition.
The transaction is expected to close during the first quarter of this year, following the completion of necessary regulatory approvals.
Founded in 2004, Kent operates the largest private hospital in Izmir — the 340-bed Izmir Kent Hospital with an attached cancer centre — as well as two medical centres in the city.
IHH Healthcare operates in 10 countries, including the key markets of Malaysia, Singapore, Turkey, India and Greater China. Its portfolio of brands includes healthcare providers such as Acibadem, Mount Elizabeth, Prince Court, Gleneagles, Fortis, Pantai, Parkway and IMU Healthcare.
In a press statement, founder and chairman of Acibadem Mehmet Ali Aydınlar says: “We are proud to bring the Acibadem brand to Izmir, which is the third largest city in Turkiye. This transaction aligns with our growth strategy in the country and achieves our long-awaited goal to serve the people of Izmir.
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“We are pleased to be providing our services to the community by adding Kent Health Group, a prominent player in Izmir’s private healthcare arena, to our portfolio,” he adds.
Matthew Strassberg, chairman of Kent and partner at MidEuropa, which currently manages Kent, says: “Over the past decade, MidEuropa has actively supported Kent’s management team as we invested to more than double Kent’s capacity, including the greenfield construction of a state-of-the-art oncology centre and the opening of a new satellite facility.
“The acquisition by Acibadem validates the strategic value generated by Kent through these investments and ensures the continuity of focus on medical and service excellence for the benefit of patients and other stakeholders,” adds Strassberg.
Shares in IHH Healthcare closed 1 cent or 0.55% up at $1.83 on Feb 2.
