Reported to KAP: New acquisition in the healthcare sector by Koç Holding

According to a report in Ekonomim; Koç Holding has signed a share purchase agreement for the acquisition of shares corresponding to 80 percent of the capital of Kemer Medical Center Özel Sağlık Hizmetleri Turizm ve Ticaret, as part of its evaluations regarding growth opportunities in the healthcare sector.

In the statement made by Koç Holding to the Public Disclosure Platform (KAP) regarding the matter, the following was noted:

"It has been decided by our Board of Directors that a total of 66,581,000 TL nominal value shares, corresponding to 80% of the capital of Kemer Medical Center Özel Sağlık Hizmetleri Turizm ve Ticaret A.Ş. ("KMC"), which operates in the private hospital management sector in Antalya under the Anatolia Hospital brand, shall be purchased by our Company, and a Share Purchase Agreement has been signed in this regard.

It has been agreed that the share purchase price to be paid by our Company for the Subject Shares shall be determined based on an enterprise value of 110,000,000 Euros, subject to net debt and working capital adjustments, and the Purchase Price shall be determined once KMC's financial statements as of December 31, 2023, are ready and shall also be subject to post-closing adjustments.

Following the closing, it is envisaged that a separate shareholders' agreement will be signed between our Company and Güngör Fatih Çaylak and Ata Demirel ("Minority Shareholders"), who will remain as shareholders in KMC with a total of 20% stake, to regulate the management of KMC and the rights and obligations of the shareholders, as well as the principles regarding the remaining shares.

The completion of the transaction is subject to the fulfillment of certain closing conditions, including obtaining the approval of the Competition Board, and the parties have the right to terminate the agreement if the closing does not occur by April 30, 2024.”

News Source: 12punto