Turkish "Acibadem” to Withdraw from Bulgaria

Two years after entering Bulgaria, “Acibadem” is withdrawing from the country, “24 chasa” reported. The group expects offers for the hospitals it owns - the former Tokuda in Sofia, City Clinic, a hospital for heart diseases and a medical center in Burgas and Varna and several medical companies. The decision to sell the business in Bulgaria was related to the provision of fresh financing to the parent company. "Acibadem" is part of the IHH investment fund.

The IHH plans to convert its debt, cut costsр and sell assets. Bulgaria is the third foreign investment of the group after Macedonia and Iraq. The decision to invest in Bulgaria was for the people not to go to treatment in Turkey but to be treated in the country. The deal was worth EUR 125 million. It includes the money for Tokuda Hospital, the shares in City Clinic and the coverage of debts. According to documents in the Commercial Register, the transaction was originally financed by the Hungarian OTP Bank, the owner of DSK Bank. At the end of last year, the loan was transferred to the Dutch ING bank.

IHH Healthcare's strategy is to enter markets where there is a growing demand for health services and where the population becomes more wealthy and aging. The holding has more than 10,000 beds in 49 hospitals located in 9 countries, with over 35,000 employed people. In July 2018, IHH Healthcare took control of Fortis Healthcare's Indian chain for nearly EUR 300 million. Soon the holding gained another center in Malaysia - the Amanjaya Specialist Center for over EUR 21 million.

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Petya Petrova

Petya Petrova is a journalist, believer, and traveler.

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