The Adana Integrated Health Campus project reached financial close on December 19, 2014.
The project involves the construction of a new health complex that will include a 574 bed general hospital, a 182 bed oncology hospital, a 348 bed women and children’s hospital, a 185 bed cardiovascular diseases hospital, a 100 bed high security forensic psychiatric hospital and a 150 bed physical medicine and rehabilitation hospital.
Construction of the new hospital complex is expected to take 3 years whilst the contract to operate will extend to a further 25 years.
The project sponsors are Meridiam, Rönesans, SAM, Sila and TTT. A total of €433 million of senior debt is being provided to the project by lenders including EBRD, IFC, DEG, Porparco, BBVA, HSBC, Korea Development Bank, Siemens Bank and SMBC.
To support this transaction, Operis were pleased to undertake a model audit of the financial model on behalf of the sponsors and the senior lenders.