Private hospital chain Medical Park to file for IPO

Published 08.09.2017 00:46

Owned by one of Turkey's leading private equity firms Turkven, hospital-chain Medical Park Healthcare Services Inc. is set to file for an initial public offering (IPO) in London after its parent company reportedly authorized Goldman Sachs for the job, the business news website Bloomberg has claimed.

Citing sources who spoke on condition of anonymity, Bloomberg reported that Turkven could soon grant authorization to other banks as well. However, no final decision on the size or time for the IPO has been made yet.

Meanwhile, Medical Park's main competitor Memorial Health Investments Inc., which runs some 10 hospitals, has authorized the Citigroup Inc. and Credit Suisse for a possible public offering.

Initial reports suggested that the group could generate almost $400 million in revenue as a result of the IPO. It has also authorized Turkish investment bank İş Yatırım to initiate trading in the Turkish stock market.

According to a different source, it was eyeing a Borsa Istanbul IPO in the first half of 2018.

Representatives of Medical Park, Turkven, Goldman Sachs, Citigroup, Credit Suisse, Memorial and İş Yatırım did not make any comments on the development.

Turkven made its first investment in Medical Park, the Turkey's largest private hospital chain, in 2014.

The group runs hospitals under the brands Medical Park and Liv for patients with state or private health insurance.

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