Investors acquire major holding in Bıçakcılar

Global Capital Management Ltd, the alternative asset management arm of Global Investment House (Global), announced that its Global Buyout Fund has successfully acquired 80% of Bıçakcılar Tıbbi Cihazlar A.Ş. and its group of companies (Bıçakcılar), leading manufacturers of medical equipment and disposables, and distributor of cardiovascular and neurosurgery products in Turkey. Bıçakcılar, said to be the largest manufacturer of I.V. cannula in the Middle East and Eastern Europe and the second largest manufacturer of catheters in Europe, exports its products to more than 70 countries. Exports grew at a CAGR of 20.1% between 2005 and 2008, whereas the Turkish medical disposables grew at a CAGR of 13.0% during the same period. The Group’s manufacturing practices are in compliance with GMP and Medical Device Directives of the European Union and the products are certified by TUV NORD, thus bear the CE label.

On the imported and distributed products side, the Group is a significant distributor of global medical products brands such as St. Jude, Sorin Group, Medtronics, Serres and CryoLife.

Mr. Ferhat Bıçakcı said, that the partnership represents: “a crucial step towards improving Bıçakcılar’s corporate structure and realising our plans for global competitiveness. Global Capital Management’s support, and the trust they have in us will provide us with the means to expand further in the global arena and replicate our success in the Turkish market and international markets.”