Carlyle Group May Sell Stake In Medical Park

Medical Park’s other main shareholder, the Sancak family, may also consider selling a stake, Muharrem Usta also told sister news service Reuters in early December, adding he would not sell his own shares.

An initial public offering is not on the agenda, he said.

Sources told Reuters that private equity firms Texas Pacific Group and CVC were among those interested in buying a stake in Medical Park.

The hospital chain mandated Credit Suisse and Goldman Sachs to look at a possible sale or IPO, Carlyle Group and the Turkish shareholders said in September.

Carlyle Group acquired a 40 percent stake in 2009 for an undisclosed amount alongside founders Usta and Haydar Sancak, who each own 30 percent.

Health care and private hospitals are popular among private equity houses. Earlier this year, Khazanah Nasional Berhad, Malaysia’s state investment company, bought a 75 percent stake in Turkish group Acibadem Hospital and affiliated companies from Dubai-based Abraaj and Turkey’s Aydinlar family.

Ceyda Caglayan is a correspondent for Reuters in in Istanbul; additional reporting by Seda Sezer.