Blog
Rönesans Sağlık Yatırım completed its financial close for the 1,550-bed Adana Integrated Health Campus, developed under the Public-Private Partnership (PPP) model, in cooperation with international investment fund Meridiam Infrastructure and a consortium of nine foreign banks.
The project has a total investment value of €540 million, of which €433 million was financed by nine foreign banks. The remaining amount was to be provided as equity by the project’s investor partners, Rönesans and Meridiam.
Rönesans Holding Chairman Erman Ilıcak stated that the project represented one of the first major healthcare PPP projects in Türkiye to achieve financial close with financing provided entirely by foreign banks. He emphasized that the 18-year financing agreement demonstrated international banks’ confidence in the Turkish economy, the Ministry of Health, and the project partners.
The financial close agreement was signed at a ceremony attended by Minister of Health Mehmet Müezzinoğlu, Rönesans Holding Chairman Erman Ilıcak, Meridiam CEO Thierry Deau, and representatives of the nine participating banks.
Ilıcak noted that the Adana Integrated Health Campus would consist of three hospitals with a total capacity of 1,550 beds and would represent a significant investment in Türkiye’s healthcare infrastructure. He also stated that Rönesans Sağlık Yatırım was undertaking healthcare projects in Adana, Bursa, Elazığ, and Yozgat, while planning additional physical therapy and rehabilitation hospitals, psychiatric hospitals, and high-security forensic psychiatric hospitals in various provinces.
According to the project plans, Rönesans Sağlık Yatırım’s share of the construction area across its PPP healthcare projects was expected to reach approximately 2 million square meters, with a target capacity of 6,818 beds and a combined investment value of approximately €2 billion.
Meridiam’s Investment Perspective
Meridiam Co-Founder and CEO Thierry Deau explained that the company had decided to invest in Türkiye’s healthcare infrastructure after recognizing the country’s need for new social infrastructure and long-term healthcare investments.
Deau stated that Meridiam had established an office in Istanbul and worked with Turkish engineers and local partners. He emphasized that the partnership with Rönesans was based on shared values and long-term infrastructure investment objectives.
He also highlighted the importance of occupational health and safety standards and sustainable healthcare infrastructure, noting that the project was intended to benefit the people of Adana by providing high-quality regional healthcare services.
The Adana Integrated Health Campus was described as the first of four healthcare facilities that Meridiam planned to finance in Türkiye, with a combined investment value of approximately €2 billion.
1,550-Bed Healthcare Campus
The Adana Integrated Health Campus consists of three hospitals:
- 1,300-bed Main Hospital
- 150-bed Physical Therapy and Rehabilitation Hospital
- 100-bed High-Security Forensic Psychiatry Hospital
The project was developed under the PPP model, in which private-sector companies finance and construct public healthcare facilities and make them available to the public sector under a long-term lease arrangement.
Under this model, medical services continue to be provided by the state, while doctors and nurses are employed and provided by the public sector. The private sector is responsible for providing certain non-medical services during the lease period.
While PPP healthcare partnerships in different countries can have terms ranging from 15 to 30 years, the term established for healthcare PPP projects in Türkiye was 25 years.
The projects were intended to contribute to the development of modern and technologically advanced hospitals equipped with their own infrastructure and automation systems, as well as rehabilitation areas, sports facilities, meeting rooms, and other supporting facilities.
Following the speeches, Minister of Health Mehmet Müezzinoğlu, Rönesans Holding Chairman Erman Ilıcak, Meridiam CEO Thierry Deau, and representatives of the nine banks signed the Adana Integrated Health Campus Financial Close Agreement.
Back