Integrated Health campus with 1050 beds to serve a population of approximately 1.6 million people

Background

The Project consists of the design, construction, financing and maintenance of an integrated health campus with 1038 beds, serving the 4th healthcare region of Turkey. The concession contract with the Ministry of Health of the Turkish Republic is comprised of a three-year construction phase followed by 25 years of operation.

The Project provides efficient access to a full range of high-quality healthcare in a single location to a population of about 600,000 people, with 1,850 among doctors, nurseries, technicians, administrative personnel and other staffs employed in the campus.

ELZ Saglik Yatirim A.S. (the Project Company) reached Commercial Close in June 2013 and achieved Financial Close in December 2016. Meridiam is partnering with Ronesans, with which it had already partnered for Adana and Yozgat hospitals. In March 2019, 10% of shares owned by SILA/TTT were acquired by Meridiam (5%) and Ronesans (5%).

Meridiam now holds 68% shareholding of the project company.

Stage:

In Operation

ESG/SDG Key Facts

In 2016, V.E Moody’s was hired to provide an independent opinion on the sustainability credentials and management of the Green & Social Bond (the “Bond”) issued in 2016 to finance the Elazığ Integrated Health Campus Project. The Project bond was rated Reasonable, the highest level of assurance assessment, for the Bond’s contribution to sustainability. In 2018, during construction, V.E Moody’s conducted a new assessment of the Bond, and it was again rated Reasonable on the assurance on the Borrower and the Issuer’s commitments and the Bond’s contribution to sustainability. In October 2021, V.E Moody’s repeated its evaluation and assurance level was confirmed.
In 2018, the Project was awarded Gold Standard under LEED (Leadership in Energy and Environmental Design) Certification.
The Project obtained the certifications for ISO 9001 Quality Management System, ISO 14001 Environmental Management System and OHSAS 18001 Occupational Health and Safety Management System.
After the 6.8 magnitude earthquake that hit the region in January 2020, Meridiam, in partnership with ACEV (Mother and Child Education Foundation) launched a charity initiative to support children’s activities and provide post-trauma psychosocial support, touring all villages and temporary residences in the Elazig region. The initiative benefited 598 recipients (adults, adults with disability, elderly, children, and teenagers under separate care and support framework).