PureHealth expands global reach with $2.3bn Hellenic healthcare group acquisition

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Holding PJSC, the largest healthcare group in the Middle East, has taken a major step in its international growth strategy by acquiring a 60% stake in (HHG), the leading provider in Greece and Cyprus. The transaction, valued at $2.3 billion, solidifies PureHealth’s position as a global healthcare leader and enhances its presence in the expanding European healthcare market.

Strategic Investment Strengthens PureHealth’s Presence in European Healthcare Market

With this acquisition, PureHealth will integrate Hellenic Healthcare Group’s extensive hospital network and medical services into its global portfolio. The deal will provide 1.4 million patients annually with access to advanced healthcare services while supporting PureHealth’s strategic expansion beyond the Gulf region. The remaining stake in HHG will continue to be held by CVC Capital Partners (35%) and the company’s founder (5%), ensuring continuity in management and operations.

A Major Expansion into European Healthcare

Hellenic Healthcare Group is the largest private healthcare network in Greece and Cyprus, operating 10 hospitals and 16 diagnostic centres. The group provides specialised services in oncology, cardiology, neurosurgery, and fertility treatments, with more than 6,700 healthcare professionals delivering high-quality care. The network includes over 1,600 hospital beds, reinforcing its role as a key player in European healthcare.

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Greece and Cyprus represent attractive markets for healthcare investment due to their increasing demand for private medical services. A significant portion of healthcare expenditure in Greece is out-of-pocket, highlighting the opportunity for private healthcare providers to bridge accessibility gaps and improve patient outcomes. By integrating Hellenic Healthcare Group into its global ecosystem, PureHealth is positioned to modernise healthcare services, expand its patient base, and drive innovation in medical treatments.

Partnership with CVC Capital Partners Enhances Global Expansion

The acquisition strengthens PureHealth’s strategic expansion through its continued partnership with CVC Capital Partners, one of the world’s largest private markets investment firms. CVC, which manages $201 billion in assets, has played a crucial role in transforming Hellenic Healthcare Group into a leading medical services provider. The partnership allows both companies to leverage their expertise to enhance operational efficiencies and expand HHG’s reach in the European market.

According to Alex Fotakidis, Partner and Head of Greece at CVC Capital Partners, HHG’s transformation under CVC’s ownership demonstrates the value of private equity-driven . He emphasized that the combined expertise of CVC and PureHealth will further accelerate HHG’s growth, enhancing healthcare delivery and accessibility in the region.

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PureHealth’s Long-Term Vision for Global Healthcare Leadership

The acquisition of Hellenic Healthcare Group is part of PureHealth’s broader international expansion strategy, which aims to establish the company as a leading global healthcare provider. This move follows a series of high-profile acquisitions, including:

The $1.2 billion acquisition of Circle Health Group, the UK’s largest independent hospital operator, in 2024.

A 26.05% stake in Ardent Health Services, a leading U.S. acute care hospital network, acquired for $500 million in 2022.

The successful IPO of Ardent Health Services on the New York Stock Exchange in July 2024, marking a key milestone in PureHealth’s investment strategy.

These acquisitions demonstrate PureHealth’s commitment to diversifying revenue streams, expanding its global patient base, and integrating cutting-edge medical innovations across multiple healthcare systems.

Executive Insights on the Future of PureHealth’s Expansion

Shaista Asif, Group Chief Executive Officer of PureHealth, described the acquisition as a transformational milestone in the company’s long-term growth strategy.

“This acquisition strengthens PureHealth’s European presence, enhances our global healthcare leadership, and aligns with our vision of delivering high-quality medical services beyond the Gulf region. With more than 50% of our revenues now generated outside the GCC, we are reinforcing our role as an international healthcare powerhouse while advancing patient outcomes and operational efficiencies,” Asif stated.

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Hamad Al Hammadi, Chairman of PureHealth, highlighted that the partnership with CVC Capital Partners reflects the company’s ability to execute large-scale acquisitions and create long-term value in the healthcare sector.

“The expansion into Europe through Hellenic Healthcare Group allows us to implement innovative healthcare models, enhance medical infrastructure, and establish new standards of excellence in patient care,” Al Hammadi said.

Regulatory Approvals and Future Growth Plans

The completion of the Hellenic Healthcare Group acquisition is subject to regulatory approvals and customary closing conditions. Once finalized, HHG will benefit from PureHealth’s technological expertise, access to global healthcare investments, and a commitment to raising medical standards in Greece and Cyprus.

The transaction marks another strategic milestone in PureHealth’s mission to transform healthcare delivery through innovation, acquisitions, and strategic investments. As the company continues its global expansion, it remains focused on improving patient outcomes, enhancing operational efficiencies, and setting new benchmarks in healthcare excellence.


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