Acıbadem is continuing its overseas investments by acquiring 100% of Tokuda Group which owns the largest private hospital in Bulgaria as well as signing a merger agreement with City Clinic Group. Acıbadem has made a total investment in Bulgaria of 125 million Euros and has become the leading private healthcare provider in the country with 4 hospitals and 4 medical centers.
Mr. Mehmet Ali Aydınlar, Chairman and Chief Executive Officer of Acıbadem Hospitals Group, stated that these two important investments are in line with Acıbadem's strategy of focusing on key emerging markets in Central Eastern Europe and the Balkan Region and said, “Through our latest investments Acıbadem will be offering healthcare services in 4 countries through a network of 22 hospitals and 17 clinics. From now on, we will be providing our world-class healthcare services in Bulgaria also. Bulgaria will become a focal point in the region for healthcare tourism”.
Acıbadem Hospitals Group has continued its investments nationally and internationally by acquiring 100% of the Tokuda Group which owns the largest private hospital in Bulgaria. Acıbadem has also signed a merger agreement with City Clinic Group which is a specialist in cardiovascular and cancer branches of medicine thus propelling Acıbadem to becoming the leading private healthcare provider in Bulgaria.
Through its latest investment, Acıbadem will be providing healthcare services in 4 countries through its network of 22 hospitals, 17 clinics with a total capacity of over 3500 beds. Acıbadem had previously acquired the Sistina Hospital in Skopje, Macedonia in 2011 which was the Group's first overseas investment. With the additional investments in Bulgaria, Acıbadem's globally recognized brand, its meticulous clinical and operational approach and experience will have spread further into Europe.
Bulgaria's largest private healthcare group: Tokuda
Tokuda is the largest private hospital in Bulgaria as well as a healthcare complex offering a range of alternative healthcare services. The 550-bed hospital, medical center, clinical research center, pharmacy and hospice is located in Sofia, the capital of Bulgaria. The Tokuda Hospital opened in 2006 and was the first private hospital owned by a foreign investor in Bulgaria with 100% Japanese investment. The fully equipped, state of the art hospital is located on an area of 52.000 square meters. It has over 30 medical departments and 22 operating theaters.
City Clinic specializes in cardiovascular and cancer care
City Clinic, founded in 2010, operates two hospitals in Sofia of which one is dedicated to cardiology and cancer, a hospital in Burgaz and a medical center in Varna. The cardiology hospital in Sofia is the only JCI accredited hospital in Bulgaria. City Clinic Sofia Cardiology Hospital is a teaching hospital of two leading medical schools in the country combining high quality clinical service with education and research. City Clinic is a leader in the cardiovascular field and has cemented its leadership with the opening of the new cancer hospital. Om addition to its hospitals, the group has a total of three medical centers including the medical center in Varna.
DETAILS OF THE TRANSACTION
Acıbadem Hospitals Group has acquired Tokuda Group and City Clinic Group, Bulgaria's leading healthcare providers. By acquiring 100% of Tokuda Group and merging with City Clinic Group, Acıbadem has made an investment totaling 125 million Euros. The remaining stake in City Clinic Group will be rolled over into a new combined entity, which will have 76.5% of the newly created holding company's share capital held by Acıbadem Group and remaining 23.5% by City Clinic Group. Transactions are expected to be completed within three months following the acquisition of the required authorization and meeting of specific conditions.