Abraaj Group invests in Turkish medical company
ISTANBULThe Abraaj Group, a leading investor group operating in global growth markets, has announced it acquired a stake in Yü-Ce Medical, a disposable medical supplies manufacturer in Turkey, in a written statement on Aug. 10.
This marks Abraaj’s second investment through its Anatolia Growth Capital Fund and the first ever private equity investment completed in the southeastern province of Şanlıurfa.
The investment is partly financed by the European Union and the Republic of Turkey, said the statement.
Yü-Ce Medical carries out its manufacturing operations in two company-owned factories and has an established sales platform across Turkey, including a diversified customer base of more than 230 state, university and private hospitals and over 190 medical distributors, according to the statement.
Abraaj, in partnership with the company’s founding Balçık family, will focus on increasing production capacity, expanding the existing sales and distribution network and further enhancing the company’s product offering in the disposable medical supplies sector, said the statement.
Abraaj’s Anatolia Growth Capital Fund invests in high growth companies in the less developed regions of Turkey, targeting 43 provinces with per capita incomes below 75 percent of the national average, offering substantial convergence opportunities and growth potential, according to the statement. In January 2015, Abraaj made Anatolia Growth Capital Fund’s inaugural investment in Kayseri-based BRN Sleep Products, a Turkish mattress and sleep products manufacturer, exporter and retailer.
The Abraaj Group has deployed over $900 million across 28 healthcare investments in global growth markets. Abraaj has been investing in Turkey since 2007, and its diversified portfolio includes leading e-commerce business Hepsiburada and dairy manufacturer Yörsan Group.