Image credit: Emirates News Agency
Abu Dhabi’s PureHealth has agreed to acquire a 60 per cent stake in Hellenic Healthcare Group (HHG), valuing the provider of private healthcare services in Greece and Cyprus at $2.31bn (EUR2.2bn).
“CVC Capital Partners will retain 35 per cent of the business while CEO Dimitris Spyridis will own 5 per cent shareholding,” PureHealth said in a bourse filing.
With a capacity of over 1,600 beds, HHG has cemented its position as a leading provider in Greece and Cyprus, delivering advanced medical services across a network of 10 hospitals and 16 diagnostic centres across Greece and Cyprus.
With a team of over 6,700 healthcare professionals, HHG provides care for approximately 1.4 million patients each year. The healthcare services group offers a wide range of medical specialities, including advanced care in oncology, cardiology, and neurosurgery.
The Abu Dhabi-listed healthcare platform said the acquisition is subject to regulatory approvals without disclosing a timeline for its completion.
“The 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,” said Shaista Asif, Group CEO at PureHealth.
“Integrating HHG into our portfolio not only reinforces our position in Europe but also creates significant value for our group by contributing to revenue diversification, driving operational synergies and strengthening our financial performance.”
Meanwhile, ADQ-backed PureHealth has been investing in recent years to grow its portfolio and expand globally. The group completed the acquisition of Circle Health Group, the UK’s largest independent hospital operator, for around $1.2bn in 2023 and a 26.05 per cent stake in Ardent Health for $500m.
With a market capitalisation of $10.8bn (Dhs40bn) as of January 25, 2025, PureHealth’s nine-month profit was 13 per cent year-on-year to Dhs1.4bn, while its revenues rose by 56 per cent to Dhs19bn. The healthcare firm operates more than 100 hospitals and over 300 clinics with 56,000-plus employees.
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