Tokyo, Dec 26, 2011 (JCN) - Mitsui & Co. Ltd has agreed to an acquisition of shares in the holding company for Turkish private healthcare group Acibadem by Integrated Healthcare Holdings Sdn. Bhd (IHHSB), in which Mitsui holds a 30% stake through its subsidiary MBK Healthcare Partners Limited (MBKHP).
IHHSB will acquire a 60% stake in Acibadem through a combination of cash payment and an exchange of newly-issued IHHSB shares with Acibadem shares. Due to the issuing of IHHSB's new shares, it is envisaged that MBKHP's shareholding in IHHSB will be diluted from 30% to 26.6%.
Running 14 hospitals (over 1,800 beds) and eight medical centers, Acibadem is Turkey's leading private healthcare group. In addition to its hospital business, Acibadem also operates healthcare-related businesses such as hospital food service, hospital planning and design.
Mitsui invested in IHHSB in May 2011 through MBKHP. In Asia, where an increase in healthcare demand is expected, Mitsui is working to expand its network of hospital business platform and healthcare-related business as well as to explore new business opportunities in the peripheral market with IHHSB. In addition to Singapore and Malaysia, Mitsui aims to expand its healthcare business through IHHSB in Asian countries such as China, and at the same time, to develop a business platform in the Middle East through its healthcare-related business in Turkey, where the rapid growth of healthcare demand is expected as a result of population growth, aging, economic growth and changes in lifestyle.
Copyright © 2013 JCN. All rights reserved. A division of Japan Corporate News Network KK.
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