Abraaj Capital has entered into a strategic partnership with Capital Investment, a Abu Dhabi-based private institutional investment house, to support domestic growth and global expansion of Acibadem Healthcare Services.

Turkey’s leading healthcare provider, Acibadem Healthcare Services, is one of Abraaj Capital’s portfolio companies.

Abraaj Capital and Mehmet Ali Aydinlar, one of the founders and CEO of Acibadem, earlier acquired a majority stake in the Turkish firm through a joint venture holding company.

The new partnership will accelerate the development of the healthcare group and facilitate the long-term expansion of its healthcare services in the Mena and South Asia region, where the existing supply of high-quality medical services is generally insufficient.

Abraaj Capital also earlier acquired a 50 per cent stake in leading Turkish health insurance company, Acibadem Sigorta, from Aydinlar.

Abraaj Capital’s investment was made through its $2 billion Infrastructure and Growth Capital Fund (IGCF).

Acibadem, the only healthcare institution whose shares are traded on the Istanbul Stock Exchange, was founded in 1991 and is part of a premium integrated healthcare platform that provides secondary and tertiary private healthcare services, laboratory services, health and life insurance, hospital project management and hospital facilities management services.

Its credentials include accreditation from Joint Commission International (JCI) and affiliation with Harvard Medical International.

Mustafa Abdel-Wadood, managing director, Abraaj Capital, and CEO, Abraaj Investment Management Limited, said Turkey, with its sizeable and expanding population, was very much a growth market, strategically placed between Europe and Asia.

'Healthcare, in particular, is a service for which there is a growing need and where the potential for expansion, domestically and in the region, is enormous.'

'This new partnership with Capital Investment further strengthens Acibadem’s ability to serve both its rapidly growing domestic market and enter into the high-growth region. We are delighted to announce this partnership with one of Abu Dhabi’s leading private investment houses,' he added.

Capital Investment, a subsidiary of Abu Dhabi Capital Group, is a substantial private institutional investment house which invests in long-term value opportunities across select emerging and mature markets around the world.

Hafsa Al Ulama, managing director of Abu Dhabi Capital Group, said: “Our goal is to identify and execute value investments in the healthcare, education and infrastructure sectors, and we are pleased to partner with Abraaj Capital in this strategic acquisition.”-TradeArabia News Service