Bloomberg News

Senior Assist NV to Invest 300 Million Euros in Turkey

March 15, 2012

Senior Assist NV, a Belgian provider of care services, plans to invest 300 million euros ($392 million) over five years in Turkey to provide home health care and set up centers for the elderly.

Senior Assist, based in Brussels, will focus on Turkey’s biggest provinces of Istanbul, Ankara and Izmir, targeting 6 million Turks over 60 years of age, with an initial investment of 160 million euros over three years, the company said in an e- mailed statement today.

The investment is Senior Assist’s fourth in a country outside of Belgium, following Chile, Uruguay and Brazil, Chairman Bart Vanderschrick said in a telephone interview today.

“The market is very immature with only 20,000 beds,” Vanderschrick said. “We can set the standard.”

The company opened its first Turkish nursing home last month in the town of Gure, about 600 kilometers (373 miles) from Istanbul, and will open another in Istanbul by the end of May, he said.

The investments are made through real-estate partners and will be used primarily to buy new land and facilities, he said.

To contact the reporter on this story: Benjamin Harvey in Istanbul at bharvey11@bloomberg.net

To contact the editor responsible for this story: Aydan Eksin at aeksin@bloomberg.net


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