Global Capital Management Ltd., a buyout unit of Global Investment House of Kuwait, acquired 80 percent of Turkey’s Bicakcilar Tibbi Cihazlar AS, a medical equipment manufacturer, Global said.
Bicakcilar, based in Istanbul, is the second-biggest maker of catheters in Europe and exports its products to more than 70 countries, Global Investment House, a Kuwaiti investment company, said in an e-mailed statement today. Financial details of the agreement weren’t provided.
Turkey’s growing health-care industry has attracted investors including Abraaj Capital Ltd., the Middle East’s biggest private-equity firm, which bought 54 percent of hospital operator Acibadem Saglik Hizmetleri & Ticaret AS for about $606 million in 2007 and 2008. Carlyle Group, the world’s No. 2 private-equity firm, bought 40 percent of hospital operator Medical Park Saglik Grubu AS for an undisclosed price in 2009.
Universal Saglik Yatirimlari Holding AS, a Turkish chain of 18 hospitals, will complete the sale of a stake of unspecified size within a month, according to Daruma Corporate Finance, which is advising on the transaction.Source: Bloomberg