Deals

Completion Date
January 2010

Transaction Type
Development Capital

Transaction Value
(Not disclosed)

Lead Partner
Ozkan Yavasal
Telephone +90 212 370 60 60

Background
Daruma Corporate Finance was the exclusive corporate finance advisor in the sale of a minority stake in Medical Park Saglik Hizmetleri A.S., the largest and leading hospital operator in Turkey, to The Carlyle Group, through the Carlyle MENA Fund.
The Carlyle Group, which made its first investment in Turkey last year, is growing its activity in the country by acquiring a minority stake in Medical Park Saglik Hizmetleri A.S.
Daruma Corporate Finance has a long standing relationship with Medical Park and has acted as sole financial advisor to the Company since the first time share sale by Dr Muharrem Usta and Dr Adem Elbasi of 50% of their interest to Sancak Group, back in 2005. Subsequently, Daruma has acted as advisor when they raised an additional €40m debt funding in 2006 and 2007 to support its further growth.

What Difference Did We Make?
The transaction was initiated by Daruma and all apsects of the deal (due diligence, negotiations, documentation and legal) were managed by the Daruma team which included Okan Altug, Ozkan Yavasal and Hayrettin Buyukizgi.

This transaction was a result of a long relationship with the shareholders and a deep knowledge of both the healthcare sector and the private equity funding market in Turkey.