PureHealth, the largest healthcare group in the Middle East, has agreed to acquire a 60% stake in Hellenic Healthcare Group (HHG) in a transaction valued at €2.2 billion. This acquisition marks PureHealth’s latest strategic move to expand its global presence, positioning the group as a leader in healthcare innovation and delivery.
Strengthening Global Presence Through Strategic Partnerships
HHG is the largest private healthcare provider in Greece and Cyprus. It operates 10 hospitals and 16 diagnostic centers, serving about 1.4 million patients annually. PureHealth’s acquisition will integrate HHG’s advanced infrastructure into its network. This move will enhance PureHealth’s ability to deliver innovative and transformative care globally.
The transaction, once finalized, will see CVC Capital Partners VI retain a 35% stake in HHG, while CEO Dimitris Spyridis will maintain a 5% ownership. The partnership with CVC ensures continued support for HHG’s growth, leveraging combined expertise and resources.
Unlocking Opportunities in Greek and Cypriot Healthcare Markets
The Greek and Cypriot healthcare sectors offer significant opportunities due to unmet demand and high out-of-pocket healthcare spending. Investments in medical infrastructure are also on the rise.
HHG’s expertise in advanced specialties such as oncology, cardiology, and neurosurgery strengthens its position in the region. Additionally, its IVF and homecare services make it a key player in addressing healthcare challenges in Greece and Cyprus.
Commenting on the acquisition, Hamad Al Hammadi, Chairman of PureHealth, stated, “Expanding into Europe through Hellenic Healthcare Group strengthens our position as a global healthcare leader. Our collaboration with CVC highlights our ability to drive growth and set new standards of excellence globally.”
Strategic Vision for Global Expansion
PureHealth’s Group CEO, Shaista Asif, emphasized the acquisition’s significance in reinforcing the company’s global ambitions. “This move aligns with our vision of becoming a global leader in healthcare, with over 50% of our revenues originating outside the GCC. It contributes to revenue diversification, operational synergies, and enhanced financial performance,” she said.
HHG CEO Dimitris Spyridis expressed excitement about the partnership, highlighting the group’s commitment to investing in people, technology, and facilities. “With PureHealth as our majority shareholder, we aim to further establish HHG as the premier private healthcare provider in the region,” Spyridis said.
Also read: Asia’s Healthcare Market to Hit $5 Trillion by 2030: BCG Report
PureHealth’s Growing Portfolio
This acquisition follows PureHealth’s purchase of Circle Health Group in the UK for $1.2 billion in 2022 and a 26.05% stake in Ardent Health Services for $500 million. These strategic moves underscore PureHealth’s focus on diversifying its revenue streams and enhancing its global footprint.
The transaction remains subject to regulatory approvals and customary closing conditions. Upon completion, HHG will benefit from the combined expertise and resources of both PureHealth and CVC, paving the way for further innovation and growth in the healthcare sector.
This acquisition highlights PureHealth’s ambition to redefine global healthcare delivery, setting new benchmarks for operational excellence and patient outcomes worldwide.
