PureHealth strengthens global presence with HHG acquisition
Deal News | Jan 27, 2025 | CVC Capital Partners
PureHealth Holding PJSC, a major player in the Middle Eastern healthcare sector, has agreed to acquire a 60% controlling interest in Hellenic Healthcare Group (HHG) for EUR 2.2 billion. HHG, a prominent healthcare provider in Greece and Cyprus, boasts a robust infrastructure of 10 hospitals and 16 diagnostic centers, serving 1.4 million patients annually. Prior to the transaction, HHG was predominantly owned by CVC Capital Partners VI and its CEO, Dimitris Spyridis. Post-acquisition, CVC will retain a 35% interest and Mr. Spyridis will hold a 5% stake. The transaction reflects PureHealth's strategic growth ambition to expand its global footprint and reinforce its presence in Europe. This move leverages the untapped potential of the Greek and Cypriot healthcare markets, where there is significant private sector opportunity due to substantial out-of-pocket healthcare spending. PureHealth aims to capitalize on these favorable market conditions to enhance operational synergy and revenue diversification, while setting new standards in healthcare delivery. CVC will remain as a strategic partner, facilitating continued growth and transformation in collaboration with PureHealth.
Sectors
- Healthcare
- Private Equity
Geography
- Greece – Hellenic Healthcare Group operates extensively in Greece, owning hospitals and diagnostic centers, which positions Greece as a central geography in this acquisition deal.
- Cyprus – Hellenic Healthcare Group also serves the Cypriot healthcare market, highlighting Cyprus as an important region in the acquisition strategy.
- Middle East – PureHealth is the largest healthcare group in the Middle East, and this acquisition signifies its expansion into the European market.
Industry
- Healthcare – The article discusses the acquisition of Hellenic Healthcare Group, a prominent provider in the European healthcare sector, by PureHealth, highlighting the expansion of healthcare services and infrastructure.
- Private Equity – CVC Capital Partners, a leading private equity firm, is selling a majority stake in Hellenic Healthcare Group, marking a notable transaction in the private equity industry.
Financials
- EUR 2.2 Billion – The total transaction value for the acquisition of a 60% stake in Hellenic Healthcare Group by PureHealth.
- 60% – The stake acquired by PureHealth in Hellenic Healthcare Group.
- 35% – The stake retained by CVC Capital Partners VI in Hellenic Healthcare Group post-transaction.
- 5% – The stake retained by CEO Dimitris Spyridis in Hellenic Healthcare Group post-transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PureHealth Holding PJSC | Buyer | Company | A leading healthcare group in the Middle East, expanding its operations into Europe through this strategic acquisition. |
| Hellenic Healthcare Group | Target Company | Company | The largest private healthcare provider in Greece and Cyprus, operating hospitals and diagnostic centers. |
| CVC Capital Partners VI | Vendor | Company | A private equity firm that holds a majority stake in HHG, now selling 60% to PureHealth but retaining a strategic 35% interest. |
| Dimitris Spyridis | CEO and Minor Stakeholder | Person | The CEO of HHG, retains a 5% stake post-transaction. |