Kinstellar has advised Hungarian medical device manufacturer Medicor on its EUR 2 million investment in the construction of an incubator-production facility in Ankara, Turkey.
Medicor is described by Kinstellar as “one of the largest and oldest medical device manufacturers in Hungary.” The company, which was founded in 1963, produces incubators and warming and resuscitation tables, and exports them to more than 100 countries.
According to Kinstellar, the project is Hungary's first direct investment in the medical industry in Turkey. The firm reported that the new facility is expected to start production by the first half of 2022 and that the incubators produced in the Turkish plant will be sold in Central Asia, the Middle East, and Africa.
Mustafa Varank, Minister of Technology and Industry in Turkey, said that “this investment is one of the pioneering steps for economic and trade cooperation between Turkey and Hungary, which has a great potential.”
Kinstellar’s team included Partner Ebru Temizer, Associates Irmak Seymen and Ceren Ceyhan, and Legal Intern Ali Kiziltepe.