PureHealth Acquires Majority Stake in Greece-Cyprus' Hellenic Healthcare

Photo : Abu Dhabi Media Office

PureHealth has bought 60% of Hellenic Healthcare Group (HHG), the biggest private healthcare provider in Greece and Cyprus. This deal makes HHG worth $2.3 billion. CVC Capital Partners will keep 35% of HHG, while the founder will hold 5%.

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HHG runs 10 hospitals and 16 clinics in Greece and Cyprus. It has over 1,600 beds and takes care of around 1.4 million patients every year. The group has more than 6,700 healthcare workers. It offers many medical services, including cancer care, heart treatments, brain surgery, and IVF. HHG also provides home care services, including more than 6,000 IVF treatments every year.

This purchase is part of PureHealth’s plan to grow its business in Europe. By working with CVC, PureHealth wants to use both companies’ knowledge and resources to help HHG grow even more. CVC is a large global investment company managing over $200 billion in assets.

The healthcare markets in Greece and Cyprus have a lot of room to grow, especially in private healthcare. Many people in Greece pay for their healthcare out of pocket, which shows that there is a need for better healthcare services. The demand for advanced healthcare services is increasing, and there is more investment in improving healthcare infrastructure.

PureHealth’s main goal is to bring new ideas, improve operations, and make healthcare better for patients. The deal will help PureHealth set new standards for healthcare and make its global presence stronger.

Hamad Al Hammadi, Chairman of PureHealth, said, “Partnering with CVC shows we can grow our business. Expanding into Europe with HHG helps us become a leader in global healthcare and allows us to provide better care.”

Shaista Asif, CEO of PureHealth, said this purchase will help the company grow, create new sources of income, and improve its performance. It fits into PureHealth’s plan of becoming a leader in healthcare worldwide.

CVC and HHG’s managers will keep 40% of HHG and continue helping with the company’s growth.

Alex Fotakidis from CVC said, “Working with PureHealth will help us reach our goals for HHG and give more value to our patients.”

The deal still needs to be approved by regulators. More details will be shared once everything is completed.

PureHealth has been growing internationally, including buying a 26.05% share in Ardent Health Services for $500 million in 2022 and purchasing Circle Health Group in the UK for $1.2 billion. These deals show PureHealth’s ability to grow its business and expand its healthcare network worldwide.

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