Kinstellar has successfully advised the Hungarian medical device manufacturer Medicor on its EUR 2 million investment for incubator production in the Turkish capital Ankara. The project is Hungary's first direct investment in the medical industry in Turkey.
The new facility is expected to start production by the first half of 2022. Incubators produced in the Turkish plant will be sold in Central Asia, the Middle East, and Africa.
According to the Turkish Technology and Industry Minister Mustafa Varank, ''this investment is one of the pioneering steps for economic and trade cooperation between Turkey and Hungary, which has a great potential''. He has also stressed that the bilateral trade volume rose more than seven-fold to $2.7 billion from $356 million in 2001.
Established in 1963, Medicor is one of the largest and oldest medical device manufacturers in Hungary. The company's neonatal care products, such as incubators and warming and resuscitation tables, are exported to more than 100 countries, including Russia, Jordan, and African countries.
Kinstellar's team was led by Ebru Temizer, Partner, and included Associates Irmak Seymen and Ceren Ceyhan, and legal intern Ali Kızıltepe.