İzmir Bayraklı Integrated Health Campus PPP

Overview:

• The İzmir Bayraklı Integrated Health Campus is a hospital public-private partnership (PPP) project in the city of Izmir in western Turkey.
• It is run by İzmir Bayraklı Hastane Yatırım ve Sağlık Hizmetleri, a special purpose company established to design, build, finance, lease and operate the hospital.
• A consortium of Türkerler İnşaat, Gama Holding and GE Healthcare established the company and serve as project sponsors, with GE Healthcare acting as a minority shareholder but also securing a multi-vendor equipment and maintenance contract.
• Akbank served as the hedging counterparty.
• The campus will provide 2,060 beds across several hospitals, namely general (715 beds), oncology (141 beds), cardiovascular (380 beds), women and paediatric (424 beds), physiotherapy and rehabilitation (300 beds) and a high security forensic psychiatric (100 beds).
• The total cost of the project is estimated to be in excess of €766 million.
• It is part of the Turkish Ministry of Health’s $10 billion plan to deliver 29 PPPs and 41,000 new hospital beds, a programme that also includes the Adana Integrated Healthcare Campus, the Bilkent Integrated Health Campus, the Gaziantep Integrated Health Campus, the Konya Karatay Integrated Health Campus, the Elazığ Integrated Health Campus and the Kocaeli Integrated Healthcare Campus.

Jon Moore - Journalist