PureHealth Boosts European Footprint with $2.3 Billion Hellenic Healthcare Group Acquisition
Deal News | Jan 27, 2025 | Zawya
PureHealth Holding PJSC, the largest healthcare group in the Middle East, has agreed to acquire a 60% stake in Hellenic Healthcare Group (HHG) from CVC Capital Partners, valuing HHG at $2.3 billion. HHG is a leading healthcare provider in Greece and Cyprus, comprising 10 hospitals and 16 diagnostic centres. PureHealth's acquisition aligns with its expansion strategy, strengthening its European presence and enhancing its global network. CVC will retain a 35% stake, maintaining strategic support alongside HHG management, who hold the remaining 5%. The deal is positioned to capture the growing demand for private healthcare in Greece and aims to create significant value through synergies and operational excellence. The transaction remains subject to regulatory approvals.
Sectors
- Healthcare
- Private Equity
Geography
- Greece – Hellenic Healthcare Group operates in Greece, central to the acquisition.
- Cyprus – Part of Hellenic Healthcare Group's operational region, contributing to its European presence.
- United Arab Emirates – PureHealth's base of operations, influencing the strategic acquisition approach.
Industry
- Healthcare – This article discusses the acquisition in the healthcare industry, involving hospitals and medical services in Greece and Cyprus.
- Private Equity – Involves CVC Capital Partners' funding and equity stakes, a key player in private equity with investments across various sectors.
Financials
- 2.3 billion – Transaction value for PureHealth's acquisition of a 60% stake in HHG.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PureHealth Holding PJSC | Bidding Company/Buyer | Company | The largest healthcare group in the Middle East, acquiring a majority stake in HHG. |
| Hellenic Healthcare Group (HHG) | Target Company | Company | A leading private healthcare provider in Greece and Cyprus. |
| CVC Capital Partners | Selling Company/Vendor | Company | A global private equity manager that previously held 90% ownership of HHG. |
| Hamad Al Hammadi | Chairman of PureHealth | Person | Chairman expressing strategic alignment in the acquisition. |
| Shaista Asif | Group CEO of PureHealth | Person | Commented on the strategic significance of the acquisition for PureHealth. |
| Alex Fotakidis | Partner and Head of Greece at CVC | Person | Highlighted the transformation of HHG under CVC's management. |