Background

The Project consists of the design, construction, financing and maintenance of an integrated health campus with 475 beds in Yozgat (Eastern Turkey). The campus is comprised of a Main Hospital along with technical and storage facilities.
The Project provides efficient access to a full range of high-quality healthcare in a single location to a population of about 425,000 people.
In 2013, the Meridiam-led consortium incorporated YZG Sağlik Yatirim Anonim Şirketi (the Project Company) and achieved Commercial Close. Financial close was reached in June 2015. In March 2019, 13.8% of shares owned by SILA/TTT were acquired by Meridiam (6.9%) and Rönesans (6.9%). Meridiam now holds 43% shareholding of the Project Company.
Considering the operational maturity of its hospital projects, Meridiam was successful in creating a secondary market for such assets in Turkey and benchmarking the risk premium for such assets by raising €125 million worth of preferred shares at the Turkish portfolio level which will be repaid through dividends from underlying projects. This additional financing reflects the high level of operational performance achieved by Meridiam and the liquidity of such portfolio, while accelerating distributions for MIEE investors. This secondary financing is certified as a Sustainable (Green & Social) Loan of Advanced level (the highest possible) by V.E Moody’s.

Stage:

In Operation

ESG/SDG Key Facts:

The Project continues to comply with the EBRD Performance Requirements, the IFC Performance Standards and with the Project Company’s Environmental and Social Action Plan (ESAP). Work remains ongoing to sustainably embed these operational practices.

The Project was awarded LEED (Leadership in Energy and Environmental Design) Gold Standard certification. The Project is certified with ISO 9001 Quality Management System, ISO 14001 Environmental Management System, ISO 45001 Health and Safety Management System and OHSAS 18001 Occupational Health and Safety Management System.

Yozgat’s ESG performance has been rated ‘Advanced’, the highest possible rating of the ESG performance assessment scale, by V.E Moody’s, a global leader in ESG research.

SDG 3 (Good Health and Well-Being)

The Project Company is investigating the opportunity to set up specific facilities, including a fitness center. The Project Company is finalizing the establishment of a waterbirth unit and a recreational area for employees and patients.

SDG 6 (Clean Water and Sanitation)

A rainwater collection project is under investigation. It would include the construction of large-volume tanks to collect rainwater and the expansion of the existing grey water collection system. Reduction in tap
water pressure in common areas is also under investigation.

SDG 7 (Affordable and Clean Energy)

Following the 2021 energy audits, recommended energy efficiency measures including both energy saving processes and small works have been completed for each of the hospitals.

All SDGs

The SDG Roadmap development for the contribution of the hospital to the UNSDGs was completed in
February 2024.