The Emirati medical company PureHealth Holding PJSC has completed the acquisition of 60% in the Hellenic Healthcare Group (HHG) Greek hospital chain from the British investment company CVC Capital Partners. This is reported in a PureHealth press release.
The value of the transaction was 800 million euros, with a total estimated market value of 1.3 billion euros for Hellenic Healthcare.
At the same time, CVC will retain 35% of the business, and the remaining 5% shares will remain owned by the founder of the company. Previously, 90% of HHG's shares were owned by CVC Capital Partners VI, and 10% by the company's management.
Upon completion of the transaction, HHG becomes an integral part of the international PureHealth ecosystem, strengthening Abu Dhabi's position as a global center of excellence in healthcare and asset-based investments. PureHealth and integration of 11 hospitals and 23 HHG diagnostic centers.
The deal is in line with PureHealth's strategy to strengthen its position in the healthcare sector, which is a key element for diversifying its portfolio of assets, aimed at generating 50% of revenues outside the Middle Eastern market. In 2023, PureHealth acquired the British Circle Health Group, as well as a minority stake in the American Ardent Health Services. The market value of PureHealth is $11 billion.
PureHealth's partnership with CVC in healthcare investments demonstrates the effectiveness of PureHealth's international expansion plan and will contribute to HHG's growth. The healthcare markets of Greece and Cyprus provide attractive untapped opportunities with favorable growth prospects. The market dynamics are supported by the growing demand for advanced medical services, increased attention to private healthcare solutions, and increased investment in healthcare infrastructure.
CVC is a British investment company with assets worth $201 billion under management. CVC-controlled funds are invested in 130 companies with combined annual sales of over $166 billion. The headquarters is located in Jersey (UK).
HHG is a Greek medical company. HHG operates a network of 10 hospitals and 16 diagnostic centers in Greece and Cyprus. The company serves about 1.4 million patients and employs 6,700 employees with a full range of medical specialties. The headquarters is located in Athens (Greece).
PureHealth is the largest healthcare platform in the Middle East. The company owns 25 hospitals, 100 clinics, diagnostic centers, health insurance centers, pharmacies and technology enterprises, as well as assets of 10 companies in the UAE, Circle Health Group in the UK and Ardent Health Services in the USA. The headquarters is located in Abu Dhabi (UAE). In 2023, PureHealth raised about $986 million in an IPO, with a market value of $10.3 billion.
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