Acibadem Enters Into Serbia as Part of Its Growth Strategy For Eastern European Market

Acibadem Enters Into Serbia as Part of Its Growth Strategy For Eastern European Market




Acibadem Enters Into Serbia as Part of Its Growth Strategy For Eastern European Market

  • Executes definitive agreements to acquire 70% of Bel Medic
  • 6th hospital of Acıbadem’s European portfolio and 4th country of operations (3 hospitals in Bulgaria, 1 in Netherlands and Macedonia)
  • Bel Medic currently operates with one hospital and five outpatient clinics in Belgrade
  • Leverages on the global brand and reputation of Acibadem and emphasizes to continuing the provision of the highest level of clinical care in the country

BELGRADE, Serbia, March 30, 2021 (GLOBE NEWSWIRE) — Acıbadem Sağlık Hizmetleri ve Ticaret A.Ş. (“Acıbadem”), via its subsidiary, Acıbadem City Clinic B.V. (“ACC BV”), announced today that it has signed definitive agreements for the acquisition of Serbian-based Bel Medic Group and its subsidiaries (“Bel Medic”), leading private healthcare operator in Serbia.

The transaction is an acquisition of 70% of the Bel Medic Group by ACC BV which is the entity for holding Acıbadem’s investments in Eastern Europe.

Bel Medic, founded in 1995 by Dr. Jasmina Knezevic and Milan Knezevic, is a leading high-quality private healthcare provider in Serbia, operating in Belgrade. It operates one hospital and five outpatient clinics.

The group will operate under the name “Acıbadem Bel Medic”.

Mr. Mehmet Ali Aydınlar, Founder and Chairman of Acıbadem, said, “We are pleased to have Acıbadem’s sixth European hospital in Belgrade. As a result of our partnership with Bel Medic, as one of the key healthcare service providers in the country, we will be transferring Acıbadem’s know-how into Serbia. I believe that healthcare service delivery level in Serbia will be elevated to a much higher level led by synergies to be created with Bel Medic.”

Mr. Angel Angelov, Chief Executive Officer of Acıbadem City Clinic B.V., said, “We are extremely excited to further extend our operations in the West Balkans. We believe that our Group’s strive for excellency and first-class patient service will have a positive contribution to the Serbian healthcare market.”

Mrs. Jasmina Knezevic, Founder and Chief Executive Officer of Bel Medic, said, “It is my great pleasure that Bel Medic successfully entered into partnership with a world class hospital chain. Acibadem is also in Serbia recognized as the leading foreign healthcare institution. From my standpoint, it is of crucial importance that both our institutions share the same core values with focus on top-quality state of the art medicine, excellent patient care and satisfaction. I am sure that strategic merger of two strong brands, Bel Medic and Acibadem will bring premium class healthcare as well as an important impact to the Serbian economy.”

The Transaction boosts Acıbadem’s beds globally to more than 4,200 across 22 hospitals in 5 countries. Pending necessary approvals and satisfaction of certain conditions, the deal is expected to close within 3 months. PWC acted as the financial and tax advisors to Acıbadem for the Transaction. Acıbadem’s legal advisor leading the Transaction is Esin Attorney Partnership, a Member Firm of Baker & McKenzie International, a Swiss Verein and local legal advisor is Prica & Partners.

Ernst & Young acted as the financial and tax advisors to Bel Medic Group and its shareholders. Bel Medic Group’s legal advisor for the acquisition is Karanovic & Partners.

For further information;

Please contact:

Deniz Sentop Ceren Tarhanlı
e. deniz.sentop@acibadem.com e. ceren.tarhanli@acibadem.com
   

About Acıbadem Healthcare Group

Acıbadem Healthcare Group (http://www.acibadem.com/en/) is the leading private provider of diagnostic and treatment services in Turkey since 1991. Acıbadem has 21 general-purpose hospitals (1 located in Macedonia, 3 in Bulgaria and 1 in Netherlands), 13 outpatient facilities and support services companies and a team of more than 22,500 employees and 4,000 physicians.

Acıbadem is a part of a larger global network known as IHH Healthcare Berhad (“IHH”) (http://www.ihhhealthcare.com/about-overview.php). IHH operates an integrated healthcare business and related services and has leading market positions in its home markets of Singapore, Malaysia and Turkey, and it also has healthcare operations and investments in the People’s Republic of China (excluding Hong Kong, Macau and Taiwan) (“PRC”), India, Hong Kong, Macedonia, Bulgaria, Netherlands (through Acıbadem) and Brunei. IHH Healthcare Berhad is listed on the main markets of Bursa Malaysia Securities Berhad (“Bursa Securities”) and Singapore Exchange Securities Trading Limited (“SGX-ST”), and is the world’s second largest listed healthcare operator by market capitalization.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/c3289730-2a52-4259-934f-6079ec43c5f3

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