Today's Edition
ABU DHABI (ALETIHAD)
PureHealth Holding has agreed to acquire a 60% stake in Hellenic Healthcare Group (HHG), the largest private healthcare provider in Greece and Cyprus, in a transaction that values HHG at 2.2 billion euros. HHG is currently owned 90% by CVC Capital Partners VI and 10% by Dimitris Spyridis, HHG CEO.
PureHealth will acquire a 60% stake in HHG, with CVC Capital Partners retaining 35% ownership, while CEO Dimitris Spyridis will retain a 5% stake in the company.
HHG has rapidly positioned itself as a leading provider in European healthcare in Greece and Cyprus, delivering advanced medical services across a network of 10 hospitals and 16 diagnostic centres across Greece and Cyprus. With a capacity of over 1,600 beds, the group serves approximately 1.4 million patients annually through a team of more than 6,700 healthcare professionals.
HHG offers a full spectrum of medical specialties with expertise in complex fields such as oncology, cardiology, and neurosurgery, along with services including IVF treatments performing over 6,000 cycles annually and comprehensive homecare services.
The Greek and Cypriot healthcare markets present a highly attractive, untapped opportunity, characterised by favourable growth prospects. A significant proportion of healthcare spending in Greece is out-of-pocket, indicating unmet demand and opportunities for private healthcare providers to fill critical gaps in accessibility and quality.
The acquisition aligns with PureHealth’s broader expansion strategy, leveraging its scale and capabilities to consolidate HHG’s position in Greece.
Hamad Al Hammadi, Chairman of PureHealth, said: “Our collaboration with international leaders like CVC highlights PureHealth’s ability in driving growth at scale. The expansion into Europe through Hellenic Healthcare Group strengthens our position as a global healthcare leader and our commitment to delivering transformative care and setting new standards of excellence globally.”
Shaista Asif, Group Chief Executive Officer at PureHealth, commented: "This acquisition represents a significant milestone in PureHealth’s strategic expansion, reinforcing our presence in Europe and further solidifying our position as a leader in healthcare. This move aligns with our vision of becoming a global leader in healthcare, with more than 50% of our revenues originating outside the GCC."
Following completion of the transaction, CVC Capital Partners VI and HHG Management will retain a 40% stake in HHG, continuing as strategic partners to support the company’s growth and transformation.
Alex Fotakidis, Partner and Head of Greece at CVC, added: "HHG’s transformation under CVC reflects our unwavering commitment to creating value and fostering growth in our portfolio companies. We have a very strong management team who have built a quality organisation and we, together with our partners are looking forward to expanding the HHG platform to deliver better value to our patients.”
