Istanbul-based Medicana Health Group signed a notarized transfer agreement on July 9, 2026 to become the new operator and institutional carrier of Jüdisches Krankenhaus Berlin (Jewish Hospital Berlin). Medicana's offer was approved by the creditors' committee following a structured investor search process. The agreement provides for the continuation of the hospital's existing healthcare services, staff, and historic-cultural identity.

The transaction value has not been disclosed.

This transaction is not a conventional share transfer of a publicly listed company. It is a distressed M&A / hospital operating transfer conducted under the German Eigenverwaltung framework — a debtor-in-possession restructuring procedure under German insolvency law in which the debtor remains in management during the proceedings.

The hospital has been in self-administered insolvency since December 2025. Following a formal investor search, Medicana's offer was selected by the creditors' committee. The structure preserves the hospital's operational continuity, workforce, and position within Berlin's public healthcare system.

The primary closing condition disclosed publicly is the allocation by the Berlin Senate Health Administration of the hospital's healthcare service mandate and planning authorization to the new entity to be established by Medicana. Patient admissions and hospital operations continue uninterrupted during the transition period.

No merger control clearance has been referenced in public disclosures. The regulatory focus in this transaction is not on competition law but on:

• Hospital planning authorization and public service mandate transfer
• Staff transition under German employment law
• Licenses and operating permits
• Health insurance system contracts (statutory and private payers)

Jüdisches Krankenhaus Berlin operates approximately 384 beds with around 820 employees, providing services in cardiology, neurology, orthopedics, trauma surgery, psychiatry, and psychotherapy.

For Medicana, this transaction represents:

• The group's first hospital investment in Germany
• A direct entry into one of Europe's most tightly regulated healthcare markets
• A new model for Turkish healthcare groups expanding internationally: rather than building a hospital from scratch, acquiring an existing institution through restructuring — one that retains its license, patient base, specialist staff, and established position within the regional health system

The deal reflects a broader trend in cross-border healthcare M&A: financially distressed but operationally intact hospitals in Western Europe becoming acquisition targets for well-capitalized strategic investors from emerging markets.

The purchase price paid by Medicana has not been disclosed. A figure of €180 million cited in press reports represents the estimated total of debt, building, IT, equipment, and investment requirements calculated for a potential public takeover by Berlin's publicly owned hospital operator Vivantes — not the consideration in the Medicana transaction.

This transaction establishes precedent in several areas relevant to Turkish strategic investors pursuing European acquisitions:

• Acquisition of European companies in insolvency or restructuring by Turkish strategic investors
• Structuring hospital operating licenses and public service authorizations as closing conditions
• Impact of employee transfers, collective bargaining agreements, and pension rights on transaction documentation
• Contractual protection of brand and institutional identity in organizations with cultural or historic significance
• Investment, modernization, and working capital commitments as value drivers separate from the purchase price

This analysis is prepared by ULF New York for informational purposes only and does not constitute legal advice. For guidance on cross-border M&A transactions, European healthcare regulatory compliance, or distressed acquisition structuring, contact our New York office.