PureHealth Acquires Majority Stake in Hellenic Healthcare Group for $2.3 Billion
Deal News | Jan 27, 2025 | PR Newswire Cision PureHealth
PureHealth, the largest healthcare group in the Middle East, is set to acquire a 60% stake in Hellenic Healthcare Group (HHG) for $2.3 billion. HHG, the leading private healthcare provider in Greece and Cyprus, operates a robust network of hospitals and diagnostic centres across the region. This acquisition strengthens PureHealth's global footprint and represents a strategic partnership with CVC Capital Partners, who will retain a 35% stake in HHG. By integrating HHG into its portfolio, PureHealth aims to drive innovation, operational excellence, and enhance patient outcomes. The transaction underscores PureHealth's expansion strategy and commitment to becoming a global leader in healthcare. The deal remains subject to regulatory approvals and is part of PureHealth's broader international expansion following other significant acquisitions, including Circle Health Group in the UK and a stake in Ardent Health Services in the US.
Sectors
- Healthcare
- Private Equity
Geography
- United Arab Emirates – PureHealth is based in the UAE and is expanding its global footprint through this acquisition.
- Greece – Hellenic Healthcare Group, the target company in this acquisition, is based in Greece.
- Cyprus – Hellenic Healthcare Group also operates in Cyprus, adding significance to the geographical scope of the transaction.
Industry
- Healthcare – The article focuses on PureHealth's acquisition of Hellenic Healthcare Group, which operates hospitals and diagnostic centers in Greece and Cyprus.
- Private Equity – CVC Capital Partners, a private equity firm, is a key participant in this transaction by retaining a stake in Hellenic Healthcare Group.
Financials
- USD 2.3 billion – The transaction value for PureHealth acquiring a 60% stake in Hellenic Healthcare Group.
- USD 201 billion – CVC Capital Partners' assets under management, indicating its significant financial capacity and footprint.
- USD 1.2 billion – The price PureHealth paid for the acquisition of Circle Health Group in the UK.
- USD 500 million – The amount paid by PureHealth for a 26.05% stake in Ardent Health Services.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PureHealth Holding PJSC | Acquirer | Company | The largest healthcare group in the Middle East, acquiring a majority stake in Hellenic Healthcare Group. |
| Hellenic Healthcare Group | Target Company | Company | The largest private healthcare provider in Greece and Cyprus, operating 10 hospitals and 16 diagnostic centers. |
| CVC Capital Partners VI | Selling Company and Partner | Company | A leading global private equity firm that currently owns a significant stake in Hellenic Healthcare Group. |
| Alex Fotakidis | Partner and Head of Greece | Person | Represents CVC Capital Partners in Greece and comments on the partnership and growth with PureHealth. |
| Shaista Asif | Group Chief Executive Officer | Person | CEO of PureHealth, involved in the strategic expansion. |
| Dimitrios Spyridis | CEO of Hellenic Healthcare Group | Person | Oversees the operations of HHG and underlines the strategic partnership with PureHealth. |
| Hamad Al Hammadi | Chairman | Person | Chairman of PureHealth, highlighting the company's global expansion and growth. |