International Finance Corporation invests in Turkish hospital group's Bulgaria unit
The International Finance Corporation (IFC), a member of the World Bank Group, has invested 15 million euros in equity of Turkish hospital group Acıbadem's Bulgaria unit, Acıbadem City Clinic, to give a further boost to the group's growth in the Middle East and Balkans and to improve healthcare services in Bulgaria, the parties said in a statement on May 30.
Acıbadem recently made its third foreign investment and became the largest private healthcare provider of Bulgaria by acquiring Tokuda Group and City Clinic Group.
"We are very happy to see that the IFC has backed Acıbadem's growth plans in Europe by investing in Acıbadem City Clinic. This is a sign of confidence in our operations," said Acıbadem chair Mehmet Ali Aydınlar, adding that the group planned to improve private healthcare services in Bulgaria.
Acıbadem City Clinic operates an 84-bed cardiovascular hospital, an outpatient clinic and an 80-bed oncology hospital in Sofia; an outpatient clinic in Varna; a 31-bed cardiology center in Burgas and a 560-bed hospital, a diagnostic clinic and a hospice in Sofia, according to the statement.
"IFC's global healthcare strategy is to increase access to high quality healthcare in emerging markets and to work with companies that have the ability to provide the best healthcare to patients. Partnering with Acıbadem in Bulgaria, we are also supporting a Turkish company to increase its international competitiveness," said Carsten Mueller, IFC regional head of Europe, Middle East and North Africa.
Turkey is the IFC's second largest country of operations globally with a $5 billion portfolio, according to the statement.