IHH Healthcare Bhd’s unit, Acibadem Healthcare Group, has today entered definitive agreements to acquire 100% of Kent Health Group, a leading private healthcare service provider in Izmir, Turkey.
Founded in 2004, Kent Health Group operates the largest private hospital in Izmir, namely the 340-bed Izmir Kent Hospital with an attached cancer centre, as well as two medical centres in the city.
“We are proud to bring the Acibadem brand to Izmir, which is the third largest city in Turkey.
“This transaction aligns with our growth strategy in the country and achieves our long-awaited goal to serve the people of Izmir,” Acibadem founder and chairman Mehmet Ali Aydınlar said in a statement yesterday.
“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.”
Matthew Strassberg, chairman of Kent and Partner at MidEuropa, which currently manages Kent Health Group, said, “Over the past decade, MidEuropa has actively supported Kent’s management team as we invested to more than double Kent Health Group’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 Health Group through these investments and ensures the continuity of focus on medical and service excellence for the benefit of patients and other stakeholders.”
Izmir Kent Hospital will be Acibadem’s 19th hospital in Turkey and 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 2023 following the completion of necessary regulatory approvals.
IHH Healthcare ended yesterday with a three sen, at RM5.95 with a market capitalisation of RM52.4 billion. — TMR / pic source: acibadem.com.tr