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Turkven seals acquisition of Medical Park stake from Carlyle

8 Jan 2014

Turkish private equity firm Turkven has sealed the acquisition of a 40 per cent stake in Medical Park Saglik Hizmetleri, the country’s second largest healthcare services company from Carlyle Group.

The company’s other shareholders Sancak and Usta, which previously each held a 30 per cent stake, sold 20 per cent and five percent of the company , respectively, making Turkven the majority shareholder with a 65 per cent ownership stake.

Carlyle invested back in December 2009, with the firm’s all-equity investment used primarily to finance the hospital company’s continued expansion and reduce debt.Since then the company has doubled its turnover and now operates 16 hospitals.

Established in 2000, Turkven is the first independent private equity firm in Turkey. The firm conducted the first private equity-backed leveraged buy-out in Turkey with UNO Bakery in 2003. It also realised the largest private equity buy-out in Turkey with the acquisition of supermarket operator Migros for €2bn alongside BC Partners and DeA Capital

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