Bulgarian-Turkish Hospital Alliance Eyes East European Expansion

Turkey’s Acibadem Hospitals Group has invested US$160 million in Bulgaria’s leading hospital chains, and anticipates additional growth in 2017 in Central Eastern Europe and the Balkans.

Acibadem City Clinic, a leading hospital chain in Bulgaria, plans large-scale investment and expansion in 2017. CEO Ilian Grigorov told the Bulgarian news organization SeeNews that the investment would be in both organic growth and acquisitions. He made his comments while attending last month’s 11th Annual Investment Summit in Sofia, Bulgaria. City Clinic was founded in 2010 and attained JCI certification with help from Partners HealthCare International, based in Boston. It offers cardiovascular, oncology and acute care services. In April 2016, City Clinic merged with Turkey’s Acibadem Hospitals Group, which also acquired Bulgaria’s Tokuda Hospital and renamed the new joint Bulgarian concern Acibadem City Clinic. Tokuda was founded by Tokushukai Medical Corporation, of Japan, and was the first private Bulgarian hospital owned by a foreign investor. Acibadem chairman and CEO Mehmet Ali Aydınlar has said that the Turkish company is focusing on growth in key emerging markets in Central Eastern Europe and the Balkan Region. Its Bulgarian investments in City Clinic and the Tokuda Group totaled US$160 million (€125 million). Acibadem has a network of 21 hospitals and 17 healthcare clinics. —LB

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