4/26/2013

British Pamplona in talks to buy Turkey's Medical Park

Today’s Zaman - London-based private equity fund Pamplona Capital Management is in exclusive talks to buy a majority stake in Turkish hospitals group Medical Park, a source close to the matter told Reuters on Monday.


The Carlyle Group, a US private equity firm, acquired a 40 percent stake in Medical Park in 2009 for an undisclosed amount alongside Turkish businessmen Muharrem Usta and Haydar Sancak, who each own 30 percent.


Pamplona is backed by Russian billionaire Mikhail Fridman's Alfa Group, which was a cornerstone investor of the private equity fund when it was established in 2005.
"It will take a couple of months to complete the talks," the source said. "In these talks it will become clear how much each will sell."


Private equity investors favor Turkey's fast-growing services industries, including healthcare and education, attracted by a near tripling in nominal per capita gross domestic product (GDP) over the past decade and a population of 76 million.


The private healthcare sector is growing rapidly, with more people taking out private health insurance and state hospitals stretched. In February, Parliament passed new regulations aimed at making private investment easier.

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