Acibadem Saglik Hizmetleri ve Tikaret A.S. (Acibadem Saglik) is the main company of Acibadem Healthcare Group. It is listed on Istanbul Stock Exchange with 15% free float. Mr. Mehmet Ali Aydinlar, Acibadem’s President and CEO, holds approximately 40% of the total share capital of Acibadem Saglik and other 25 individual shareholders control the remaining 45%.

The total project cost is estimated at around $62 million. The proposed IFC investment is $20 million equivalent senior debt financing for IFC’s own account.

20.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	20.0
Equity

* These investment figures are indicative

The construction of the specialized oncology and neurosurgery hospital was completed in June 2004. It is a 12,000 m2 facility located in the Kozyatagi district of Istanbul. A 28,000 m2 Bursa Hospital is being built in the city of Bursa.

This a category B project according to IFC’s environmental and social review because a limited number of specific environmental and/or social impacts may result which, can be avoided or mitigated by adhering to generally recognized performance standards, guidelines or design criteria. The review of this project consisted of appraising technical, environmental, health and safety , as well as social/community information submitted by the project sponsor as well as site visits to existing Acibadem healthcare facilities in Istanbul and to the site of the proposed new hospitals in Istanbul and Bursa. Based on this information, IFC concludes that the proposed project will meet the applicable World Bank/IFC environment and social policies and the environmental, health and safety guidelines upon successful implementation of the specific agreed mitigation measures.

Location of environmental documents in locally affected community
The translated ERS will be available upon request, at Acibadem’s headquarters in Istanbul (Fahrettin Kerim Gokay Cad. 49, Altunizade 34462 Istanbul, Turkey) . It will also be published on the company’s website (www.acibadem.com.tr). An advertisement in a local newspaper will inform the local community of the availability of the ERS.

The expansion of Acibadem will improve access to high quality health care in Istanbul and Bursa and demonstrate best administrative and patient care practices throughout the medical community in Turkey. The IFC will provide long-term financing tailored to the project with terms which are not otherwise available to private healthcare providers in Turkey.