IHH Healthcare Bhd’s Turkish-based Acibadem Healthcare Group is acquiring 70 per cent in Bel Medic Group, a leading private healthcare operator in Serbia.
IHH and Acibadem said in a joint statement that definitive agreements have been signed for the acquisition. However, the purchase price was not stated.
The deal involves the acquisition of 70 per cent of the Bel Medic Group by ACC BV which is the entity for holding Acıbadem’s investments in Eastern Europe.
Bel Medic, founded in 1995 by Dr Jasmina Knezevic and Milan Knezevic, is a leading high-quality private healthcare provider in Serbia, operating in Belgrade. It operates one hospital and five outpatient clinics. The group will operate under the name “Acıbadem Bel Medic”.
Mehmet Ali Aydınlar, Founder and Chairman of Acıbadem, said: “We are pleased to have Acıbadem’s sixth European hospital in Belgrade.
“As a result of our partnership with Bel Medic, as one of the key healthcare service providers in the country,we will be transferring Acıbadem’s know-how into Serbia.
“I believe that the healthcare service delivery level in Serbia will be elevated to a much higher level led by synergies to be created with Bel Medic.”
Angel Angelov, CEO of Acıbadem City Clinic B.V. said: “We are extremely excited to further extend our operations in the West Balkans.
“We believe our Group’s strive for excellency and first-class patient service will have a positive contribution to the Serbian healthcare market.”
Jasmina Knezevic, Founder and CEO of Bel Medic, said: “It is my great pleasure that Bel Medic successfully entered into partnership with a world class hospital chain.
“Acibadem is also in Serbia recognised as the leading foreign healthcare institution. From my standpoint, it is of crucial importance that both our institutions share the same core values with focus on top-quality state of the art medicine, excellent patient care and satisfaction.
“I am sure that strategic merger of two strong brands, Bel Medic and Acibadem will bring premium class healthcare as well as an important impact to the Serbian economy.”
The transaction boosts Acıbadem’s beds globally to more than 4,200 across 22 hospitals in five countries.
Pending necessary approvals and satisfaction of certain conditions, the deal is expected to close within three months.
Acıbadem Healthcare Group is the leading private provider of diagnostic and treatment services in Turkey since 1991.
Listed IHH manages a portfolio of healthcare brands – Acibadem, Fortis, Gleneagles, Mount Elizabeth, Parkway, Pantai and Prince Court in Malaysia, Singapore, Turkey, India and Greater China (including Hong Kong).