MNT was established in 1990 by a renowed nuclear medicine specialist, Dr. Sukru Bozluolcay, and is the first and the flagship company of Bozlu Group, which encompasses 13 companies mainly operating in healthcare services and technologies. Dr. Sukru Bozluolcay is the majority owner of MNT with 96 percent share.

MNT has an expansion plan spread in the next four years and expected to cost around US$70 million, depending on the opportunities in the target markets.

MNT has invited IFC to consider a financing package of up to US$30 million to support its expansion in Turkey and in the regional markets. The proposed IFC financing package is expected to include equity and quasi-equity products to strengthen MNT’s capital structure during this expansion.

30.0 million (USD)

Product Line	IFC Investment (million USD)
Risk Management
Guarantee
Loan	15.0
Equity	15.0

* These investment figures are indicative

MNT is currently active in 45 hospitals in 24 cities of Turkey, and 1 hospital in Moldova. MNT plans to continue to expand in Turkey, and regionally in Eastern Europe and the Middle East, through the replication of its successful business model in Turkey.

MNT''s expansion in Turkey and in the region will increase availability and quality of molecular imaging and oncology treatment services in Turkey and in the target countries; where oncology is an area still hugely underserved and facing a strong increase in patient demand. MNT''s unique model of providing outsourced services within public and private hospitals enables the company to reach to a wide spectrum of patient base including the lower income segments. The project will enable creation of a regional healthcare player with high quality, ethical and corporate governance standards, attracting further foreign investor interest to the region''s healthcare sector.

- IFC will provide MNT with the long-term risk capital it requires to continue the expansion of its proven business model.
- IFC will also contribute to the development of the company and its expansion through its knowhow and experience in the sector, especially in the new regions that the company plans to expand into.
- MNT, being a family owned company with professional management, plans to further strengthen its corporate governance standards. IFC, through its specific knowhow in these areas, will play an important role in helping the company achieve this objective.
- Finally, MNT''s strategic partnership with IFC is expected to help facilitate further investment into MNT.

This is a Category B project according IFC’s Procedure for Environmental and Social Review of Projects.

The key environmental and social issues related to this project include permits, regulatory compliance; environment, health and safety during construction and restructuring; structural design and safety; radiation safety; life and fire safety; hazardous materials and waste management; employee health and safety monitoring and management; emergency preparedness and response; control of air emissions from combustion and other operations; energy and water conservation; treatment and disposal of liquid effluents; hazardous materials management; occupational health and safety including employee training and monitoring programs; human resources policy and practices; community health, safety and security; engagement with communities. The appraisal concluded that any impacts will be limited, site-specific and can be addressed by adhering to generally recognized performance standards, guidelines or design criteria.
Further details on the potential environmental and social impacts of the project, corresponding mitigation measures and guidance on how and where information about the project are provided in the Environmental & Social Review Summary.