UAE Edition 
Egypt Edition 
Saudi Edition 
MENA <> India Corridors 
Logistics (MENA) 
Climate (MENA) 
Share
Read Full Issue 
ADX-listed healthcare player PureHealth signed a definitive share purchase agreement to acquire a 60% stake in Hellenic Healthcare Group (HHG) from CVC Capital Partners VI and the group’s founder, it said in a filing (pdf) to the exchange. The sale — which is still pending regulatory approvals — values the company at USD 2.3 bn. The story was picked up by Reuters.
We knew this was coming: Rumors of a possible acquisition of HHG have been circulating since last year.
Ownership structure: HHG is currently 90% owned by US-born private markets manager CVC Capital Partners VI and 10% by the group’s founder Dimitrios Spyridis. Following the acquisition, CVC Capital will retain a 35% stake, with the founder holding the remaining 5%.
The transaction marks the latest move in a string of PureHealth acquisitions. The investment platform has been pursuing an aggressive global growth strategy, with a USD 1.2 bn acquisition of the UK’s Circle Health Group and the acquisition of a USD 1.8 bn stake in the US’ fourth largest private healthcare group, Ardent Health Services. PureHealth has a portfolio of companies across multiple verticals within the healthcare industry, including 114 hospitals, 316 clinics, and 145+ laboratories.
Closer to home: The company is also said to be eyeing a takeover of the UAE’s largest hospital network NMC Healthcare which is headquartered in Abu Dhabi.
The rationale: “This acquisition represents a significant milestone in PureHealth's strategic expansion, reinforcing our presence in Europe and further solidifying our position as a leader in healthcare. Integrating HHG into our portfolio […] creates significant value for our group by contributing to revenue diversification, driving operational synergies, and strengthening our financial performance. This move aligns with our vision of becoming a global leader in healthcare, with more than 50% of our revenues originating outside the GCC,” said Shaista Asif, group chief executive officer at PureHealth, according to a joint press release (pdf).
HHG by the numbers: Founded in 2018, the group has a total capacity of over 1.6k beds, treating around 1.4 mn patients per year through a team of some 6.7k medical professionals. HHG’s full-spectrum services span oncology, cardiology, and neurosurgery, along with IVF treatments and homecare services. The company logged EUR 564 mn in revenues in 2023.
Market reax: PureHealth shares fell 0.6% to close at AED 3.57 apiece yesterday.
