GLOBAL Private Finance for the SDGs
Who We Are
Leveraging Capital
Aligning Capital
Strenghtening Policies
Resources

About Us

UNDP's Private Finance for the SDGs leverages, scales, and aligns private sector investments to help achieve the Sustainable Development Goals.

Our Team

Our team comprises experts passionate about driving private sector investments towards achieving the SDGs.

Our Partners

We collaborate with partners to drive sustainable private investment solutions, leveraging diverse expertise and resources to help achieve the SDGs.

Contact Us

For inquiries about partnerships, the SDG Investor Platform, or connecting with stakeholders, please contact us. Our team is here to help.

SDG Investor Platform

Discover comprehensive market intelligence on SDG-aligned investment prospects, including Investment Opportunity Areas, countries, sectors, and targeted SDGs.

Financial Centres for Sustainability

Financial Centres for Sustainability (FC4S) is a global network of 44 financial centres collaborating to achieve the 2030 Agenda for Sustainable Development and the Paris Agreement.

Growth Stage Impact Ventures

The Growth Stage Impact Ventures (GSIV) programme identifies and supports successful enterprises from developing countries that significantly contribute to the SDGs and integrate impact considerations into their decision-making processes.

Impact Venture Hub

The Impact Venture Hub accelerates sustainable development by supporting high-impact ventures, building a global network of mission-driven organizations and stimulating impactful investments.

Insurance and Risk Finance Facility

The Insurance and Risk Finance Facility (IRFF) develops innovative insurance solutions in 34 countries, aiming to expand to 50 by 2025, to protect vulnerable communities and transform insurance markets for greater resilience.

Thematic Bonds

UNDP extends its thematic debt expertise to corporates and private institutions, facilitating the issuance of thematic bonds to unlock capital for projects with significant environmental and social benefits.

Impact Management and Measurement Trainings

Access the management standards designed to guide businesses and investors to embed sustainability and the UN Sustainable Development Goals at the core of internal management and decision-making practices.

Integrated National Financing Frameworks

Integrated National Financing Frameworks (INFFs) provide a framework for financing national sustainable development priorities and the SDGs at the country level.

News

Our news centre is your source for the latest stories, press releases, blogs, and other updates.

Publications

Our publications section offers the SDG Impact Standards, reports, and other research.

Telehealth and remote diagnosis

Telehealth and remote diagnosis

Photo by Shutterstock

Telehealth and remote diagnosis

Compare IOA
Country
Türkİye
Sector
Most major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Health Care
Sub Sector
Most major industry classification systems use sources of revenue as their basis for classifying companies into specific sectors, subsectors and industries. In order to group like companies based on their sustainability-related risks and opportunities, SASB created the Sustainable Industry Classification System® (SICS®) and the classification of sectors, subsectors and industries in the SDG Investor Platform is based on SICS.
Medical Technology
Indicative Return
Describes the rate of growth an investment is expected to generate within the IOA. The indicative return is identified for the IOA by establishing its Internal Rate of Return (IRR), Return of Investment (ROI) or Gross Profit Margin (GPM).
> 25% (in IRR)
Investment Timeframe
Describes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.
Short Term (0–5 years)
Market Size
Describes the value of potential addressable market of the IOA. The market size is identified for the IOA by establishing the value in USD, identifying the Compound Annual Growth Rate (CAGR) or providing a numeric unit critical to the IOA.
> USD 1 billion
Average Ticket Size (USD)
Describes the USD amount for a typical investment required in the IOA.
USD 500,000 - USD 1 million
Direct Impact
Describes the primary SDG(s) the IOA addresses.
Good health and well-being (SDG 3)
Indirect Impact
Describes the secondary SDG(s) the IOA addresses.
Reduced Inequalities (SDG 10)

Business Model Description

Providing remote diagnostic/telehealth services to increase access to healthcare services and reduce the pressure on hospital facilities

Expected Impact

Investments in telehealth models will improve access to healthcare services for the population as a whole and reduce the pressure on healthcare facilities, minimizing the risk of exposure for patients and healthcare workers during viral outbreaks.

How is this information gathered?

Investment opportunities with potential to contribute to sustainable development are based on country-level SDG Investor Maps.

Learn more

Disclaimer

UNDP, the Private Finance for the SDGs, and their affiliates (collectively “UNDP”) do not seek or solicit investment for programmes, projects, or opportunities described on this site (collectively “Programmes”) or any other Programmes, and nothing on this page should constitute a solicitation for investment. The actors listed on this site are not partners of UNDP, and their inclusion should not be construed as an endorsement or recommendation by UNDP for any relationship or investment.

The descriptions on this page are provided for informational purposes only. Only companies and enterprises that appear under the case study tab have been validated and vetted through UNDP programmes such as the Growth Stage Impact Ventures (GSIV), Business Call to Action (BCtA), or through other UN agencies. Even then, under no circumstances should their appearance on this website be construed as an endorsement for any relationship or investment. UNDP assumes no liability for investment losses directly or indirectly resulting from recommendations made, implied, or inferred by its research. Likewise, UNDP assumes no claim to investment gains directly or indirectly resulting from trading profits, investment management, or advisory fees obtained by following investment recommendations made, implied, or inferred by its research.

Investment involves risk, and all investments should be made with the supervision of a professional investment manager or advisor. The materials on the website are not an offer to sell or a solicitation of an offer to buy any investment, security, or commodity, nor shall any security be offered or sold to any person, in any jurisdiction in which such offer would be unlawful under the securities laws of such jurisdiction.

Read More

Expand All
Print

Country & Regions

Explore the country and target locations of the investment opportunity.
Country
Türkİye
Region
  • Turkey: Eastern Anatolia Region
  • Turkey: Southeastern Anatolia Region
  • Turkey: Central Anatolia Region
Learn more
Show More

Sector Classification

Situate the investment opportunity within sustainability focused sector, subsector and industry classifications.
Sector

Health Care

Development need
According to the Sustainable Development Report Dashboard of 2020, significant challenges remain in Turkey's performance on SDG 3 (Good Health and Well-being). This situation is exacerbated by COVID-19

Policy priority
Pharmaceuticals and medical devices are listed as priority investment areas (11th Development Plan and the 2020 Presidential Program). The Ministry of Health 2019-2023 Strategic Plan highlights constraints such as the the inefficient use of information technologies, the limited scale of R&D, inequalities in regional health services and the underemployment of health personnel

Gender inequalities and marginalization issues
60% of healthcare workers in Turkey are women. (17) There is no official data providing a gender-based breakdown of the job categories in the healthcare sector. There are 1.83 doctors per 1000 people in Turkey (18), this is below the OECD average of 3.4.(19) There are currently 19.05 hospital beds per one million people in the country (18). Although the regional breakdown of these indicators are not provided, rural and remote areas have an unequal access to health facilities and personnel.

Investment opportunities
Wide-scale reforms and significant sectoral growth drive investments towards healthcare.The production of high-value added pharmaceuticals and medical devices are marked as priority investment areas by the country. Moreover, the presence of many clinics and hospitals under the internationally accredited Joint Commission International supports prospects for health tourism

Key bottlenecks
The lack of collaboration among scientists and industry & the shortage of opportunities to encourage the private sector to invest in basic research limit scale. Overall, health research and R&D infrastructure development is necessary

Sub Sector

Medical Technology

Development need
This subsector was chosen in line with the inequality of access to healthcare services within and beyond Turkey. Regional differences in service delivery can be addressed through business models such as telehealth and health tourism.

Policy priority
Goal #6 listed in the Ministry of Health's 2019-2023 Strategic Plan calls for the contribution of the Turkish healthcare sector to global service delivery and national needs.In line with this, the report notes that health tourism and remote diagnostics are vital areas for service delivery

Gender inequalities and marginalization issues
60% of healthcare workers in Turkey are women. (17) There is no official data providing a gender-based breakdown of the job categories in the healthcare sector. There are 1.83 doctors per 1000 people in Turkey (18), this is below the OECD average of 3.4.(19) There are currently 19.05 hospital beds per one million people in the country (18). Although the regional breakdown of these indicators are not provided, rural and remote areas have an unequal access to health facilities and personnel.

Investment opportunities
Wide-scale reforms and significant sectoral growth drive investments towards healthcare.The production of high-value added pharmaceuticals and medical devices are marked as priority investment areas by the country. Moreover, the presence of many clinics and hospitals under the internationally accredited Joint Commission International supports prospects for health tourism

Key bottlenecks
The transportation and telecommunication infrastructure in certain regions might prevent access to remote diagnostics or health tourism services.

Show More

Pipeline Opportunity

Discover the investment opportunity and its corresponding business model.
Investment Opportunity Area

Telehealth and remote diagnosis

Business Model

Providing remote diagnostic/telehealth services to increase access to healthcare services and reduce the pressure on hospital facilities

Show More

Business Case

Learn about the investment opportunity’s business metrics and market risks.

Market Size and Environment

Market Size (USD)
Describes the value in USD of a potential addressable market of the IOA.

> USD 1 billion

CAGR
Describes the historical or expected annual growth of revenues in the IOA market.

15% - 20%

The global telemedicine market size was estimated at USD 41.4 billion in 2019 and is expected to witness a CAGR of 15.1% during the forecast period. (10)

Indicative Return

IRR
Describes an expected annual rate of growth of the IOA investment.

> 25%

Cost-benefit analysis of telemedicine business models and previous acquisitions in similar markets point to an IRR range between 21-40% for this investment area. (11)(12)

Investment Timeframe

Timeframe
Describes the time period in which the IOA will pay-back the invested resources. The estimate is based on asset expected lifetime as the IOA will start generating accumulated positive cash-flows.

Short Term (0–5 years)

These investments are not capital-intensive and due to the increased needs emerging from the COVID-19 pandemic, are likely to generate cash-flows in the short-term

Ticket Size

Average Ticket Size (USD)
Describes the USD amount for a typical investment required in the IOA.

USD 500,000 - USD 1 million

Market Risks & Scale Obstacles

Business - Supply Chain Constraints

Limited access to internet and telecommunication services might limit scale in certain regions.
Show More

Impact Case

Read about impact metrics and social and environmental risks of the investment opportunity.

Sustainable Development Need

Well-designed telehealth services will improve patient engagement and monitoring, access to health services and preventive care.

Telehealth will reduce the demand on crowded facilities, unnecessary admissions and readmissions can be reduced through remote consultations

The Covid-19 pandemic has demonstrated the importance of remote diagnostics and telehealth services in maintaining service quality and continuity despite the pressure on health facilities

Gender & Marginalisation

There are rural-urban disparities in the access to health services and personnel in Turkey

Expected Development Outcome

Improve access to healthcare services and reduce the pressure on healthcare facilities, minimize the risk of exposure for patients and healthcare workers during viral outbreaks (SDG 3)

Gender & Marginalisation

Increase access to medical services for female, inmigrants or rural population

Primary SDGs addressed

Good health and well-being (SDG 3)
3 - Good Health and Well-Being

3.4.1 Mortality rate attributed to cardiovascular disease, cancer, diabetes or chronic respiratory disease

3.5.1 Coverage of treatment interventions (pharmacological, psychosocial and rehabilitation and aftercare services) for substance use disorders

3.8.1 Coverage of essential health services

Current Value

16.1% (13)

76.2% (13)

Target Value

100% (13)

Secondary SDGs addressed

Reduced Inequalities (SDG 10)
10 - Reduced Inequalities

Directly impacted stakeholders

People

Patients, caregivers, healthcare professionals

Gender inequality and/or marginalization

Women, inmigrants or rural population with unequal access to medical services

Public sector

Governments, Public and Private Payers, Social Security Institutions

Indirectly impacted stakeholders

People

Telecommunications network employees

Corporates

intermediary booking organizations, telecommunications networks, internet service providers

Outcome Risks

Inaccurate and unclear reporting/diagnoses, the risks associated with maintaining personal health information in electronic form.

Remote diagnosis might cause reasoning errors, decrease the concept of trust between doctor and patient. (14)

Impact Risks

Execution Risk

Impact Classification

C—Contribute to Solutions

What

Important, positive outcome: access to healthcare services regardless of location and reduced pressure on healthcare facilities.

Who

Remote diagnostics service providers, healthcare institutions and the patients (especially in areas with limited health facilities) are expected to benefit from this investment area.

Risk

Medium Risk (Risks related to data privacy, technology related errors, misscommunication and the (in)accuracy of the remote diagnosis should be considered.)

Impact Thesis

Investments in telehealth models will improve access to healthcare services for the population as a whole and reduce the pressure on healthcare facilities, minimizing the risk of exposure for patients and healthcare workers during viral outbreaks.

Show More

Enabling Environment

Explore policy, regulatory and financial factors relevant for the investment opportunity.

Policy Environment

(2020 Presidential Programme): 2020 Presidential Programme records that despite the improvements in overall accessibility and resources, there are still regional discrepancies/inequalities in the distribution of healthcare infrastructure and personnel.

(2019-2023 Strategic Plan of the Ministry of Health): The 2019-2023 Strategic Plan of the Ministry of Health notes down telehealth/teleradiology and The Healthcare Information Network among its service-oriented projects and systems

(2019-2023 Strategic Plan): The 2019-2023 Strategic Plan deems developing digital applications for healthcare institutions and professionals to facilitate a more thorough understanding of their responsibilities in line with medical guidelines and rules as essential

Financial Environment

Financial incentives: The Ministry of Industry and Technology and The Development and Investment Bank of Turkey established "The Technology and Innovation Fund" under the Turkey Development Fund to finance innovative tech. based companies/projects with a budget of 350 million TRY.

Fiscal incentives: Companies geographically active or established in the Technology Development Zone will benefit from Institutions Tax Exemption (Kurumlar Vergisi İstisnası), Income Tax Exemption, Insurance Prime Support and VAT exemptions

Other incentives: TÜBİTAK-TEYDEB provide financial support to R&D and innovation activities on a project-by-project basis.

Regulatory Environment

(Regulation): The two bodies regulating this area are The Ministry of Health and the Directorate of Health Information Systems connected to the Ministry of Health

(Regulation): The protection of personal health data are subject to both national and international regulations (international): the WMA Declaration of Lisbon on the Rights of the Patient and WHO's Declaration on the Promotion of Patients' Rights in Europe (continued below)

Continued: Article 23 of the Patients' Rights Regulations, Article 9 of the Code of Professional Ethics in Medicine, Article 31 of the Code of Ethics of Physicials, Article 4 of the Rules of Medical Ethics 'Medical and dental surgeons, and 20th Article of the 1981 Constitution, entitled 'Privacy and the Protection of Private Life' (15)

(Regulation): Decision #663, Official Gazette #28103 sets out the responsibilities of the Directorate of Health Information Systems in governing e-health and health data/information systems.

(Regulation): The Personal Data Protection Authority in Turkey is responsible for the protection of personal data and raising public awareness about data privacy

Show More

Marketplace Participants

Discover examples of public and private stakeholders active in this investment opportunity that were identified through secondary research and consultations.

Private Sector

Telemedicine service providers such as Acıbadem University, Memorial Hospital, Medical Park, Yeditepe

Government

Ministry of Health, The Directorate of Health Information Systems, the Personal Data Protection Authority, the Social Security Institution

Multilaterals

The Development and Investment Bank of Turkey, commercial banks, MDBs such as EBRD

Non-Profit

TEMDEC- Telemedicine Development Center of Asia, Istanbul University (started the national Telemedicine Project in 2000), Continuing Medical Education and Research Center of Istanbul University (ISTEM), Turkish Association of Endoscopic Laparoscopic Surgery (ELCD)

Show More

Target Locations

See what country regions are most suitable for the investment opportunity. All references to Kosovo shall be understood to be in the context of the Security Council Resolution 1244 (1999)
country static map
rural

Turkey: Eastern Anatolia Region

Eastern Anatolia, parts of Central Anatolia (like Kırşehir and Aksaray) and Southeastern Anatolia demonstrate the lowest number of hospital beds per 100,000 people and lowest number of physicians per 1000 people (20).
semi-urban

Turkey: Southeastern Anatolia Region

Eastern Anatolia, parts of Central Anatolia (like Kırşehir and Aksaray) and Southeastern Anatolia demonstrate the lowest number of hospital beds per 100,000 people and lowest number of physicians per 1000 people (20).
semi-urban

Turkey: Central Anatolia Region

Eastern Anatolia, parts of Central Anatolia (like Kırşehir and Aksaray) and Southeastern Anatolia demonstrate the lowest number of hospital beds per 100,000 people and lowest number of physicians per 1000 people (20).
Show More

References

See what sources were used to establish the investment opportunity’s data and find resources that could be consulted to explore more.
    • Show More