IHH Healthcare's Acibadem buys 340-bed hospital in Türkiye’s third largest city

KUALA LUMPUR (Feb 2): IHH Healthcare Bhd’s 90%-owned Acibadem Saglik Yatirimlari Holding AS is buying Kent Health Group, which operates the largest private hospital in Türkiye's third largest city Izmir.

The 340-bed hospital has an attached cancer centre and two medical centres in the city, said IHH in a stock exchange filing, without disclosing the acquisition price.

Izmir Kent Hospital will be Acibadem’s 19th hospital in Türkiye and 25th globally.

The number of medical centres in Acibadem’s network will increase to 16 with this acquisition.

The transaction is expected to close during the first quarter this year following the completion of necessary regulatory approvals, said IHH.

Acibadem’s founder and chairman Mehmet Ali Aydinlar said this transaction aligns with the group’s growth strategy in the country.

“We are pleased to be providing our services to the community by adding Kent Health Group, a prominent player in Izmir’s private healthcare arena, to our portfolio,” he said.

Kent chairman Matthew Strassberg said the acquisition by Acibadem validates the strategic value in Kent and ensures the continuity of focus on medical and service excellence for the benefit of patients and other stakeholders.

Strassberg is also a partner at MidEuropa, which currently manages Kent.

“Over the past decade, MidEuropa has actively supported Kent’s management team as we invested to more than double Kent’s capacity, including the greenfield construction of a state-of-the-art oncology centre and the opening of a new satellite facility,” Strassberg said.

Shares of IHH closed three sen or 0.5% higher at RM5.95 on Thursday (Feb 2), giving the group a market capitalisation of RM52.4 billion.