March 30 (SeeNews) - Turkey's Acibadem Healthcare Group has signed definitive agreements for the acquisition of 70% interest in Serbian private healthcare provider Bel Medic Group and its subsidiaries, in line with Acibadem's strategy for growth in the market of Eastern Europe, a unit of the Istanbul-based company said.
Acibadem will acquire Bel Medic Group through its Netherlands-based subsidiary Acibadem City Clinic B.V., which is the entity for the company's investments in Eastern Europe, Sofia-based Acibadem City Clinic Tokuda Hospital said in a statement on Monday.
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Acibadem City Clinic Tokuda Hospital is 100%-owned by Bulgaria's Acibadem City Clinic EAD, which is a subsidiary of Acibadem City Clinic B.V.
The price of the deal was not disclosed. The transaction is expected to close within three months, after the granting of all the necessary regulatory approvals.
The group will operate on the Serbian market under the name Acibadem Bel Medic.
"As a result of our partnership with Bel Medic, as one of the key healthcare service providers in the country, we will be transferring Acibadem’s know-how into Serbia. I believe that healthcare service delivery level in Serbia will be elevated to a much higher level led by synergies to be created with Bel Medic,” Mehmet Ali Aydinlar, founder and chairman of Acibadem, said in the statement.
The transaction boosts Acibadem’s beds globally to more than 4,200 across 22 hospitals in five countries, Acibadem City Clinic Tokuda Hospital added.
Acibadem Healthcare Group, established in 1991, is the leading private provider of diagnostic and treatment services in Turkey. The group has 21 general-purpose hospitals, including one located in North Macedonia and three in Bulgaria, as well as 13 outpatient facilities and support service companies and a team of more than 22,500 employees and 4,000 physicians.
Acibadem is a part of a larger global network known as IHH Healthcare Berhad (IHH), which operates an integrated healthcare business and related services and has leading positions in its home markets of Singapore, Malaysia and Turkey.
Bel Medic Group is the owner of Bel Medic General Hospital which offers a comprehensive set of medical care in several locations in Belgrade, with about 390 permanent employees and some 400 consultant doctors and experts in all medical specialties.