PureHealth Holding PJSC, the largest healthcare group in the Middle East, has announced its agreement to acquire a 60% stake in Hellenic Healthcare Group (HHG), the leading private healthcare provider in Greece and Cyprus. This acquisition values HHG at $2.3 billion and will significantly enhance PureHealth's global presence, particularly in Europe.

HHG operates a network of 10 hospitals and 16 diagnostic centers, serving approximately 1.4 million patients annually with over 1,600 beds and a workforce of more than 6,700 healthcare professionals. The group specializes in various medical fields, including oncology, cardiology, and neurosurgery, and offers services such as IVF treatments and homecare.

The acquisition will integrate HHG's infrastructure and services into PureHealth's existing network, allowing for expanded healthcare services. CVC Capital Partners, which currently owns 90% of HHG, will retain a 35% stake post-acquisition, while the founder will hold the remaining 5%. This partnership with CVC, a prominent global private equity firm managing approximately $201 billion in assets, underscores PureHealth's strategy for international expansion.

The healthcare markets in Greece and Cyprus present significant growth opportunities, characterized by high out-of-pocket spending and increasing demand for private healthcare solutions. PureHealth aims to leverage these market dynamics to enhance HHG's position and drive innovation in healthcare delivery.

Hamad Al Hammadi, Chairman of PureHealth, emphasized the importance of this collaboration with CVC, stating it reinforces PureHealth's commitment to delivering transformative care and setting new standards in healthcare globally. Shaista Asif, CEO of PureHealth, noted that this acquisition marks a significant milestone in their strategic expansion, enhancing revenue diversification and operational synergies.

Following the transaction, CVC and HHG management will maintain a 40% stake in HHG, ensuring continued strategic partnership and support for the company's growth. This collaboration aims to unlock further opportunities in the healthcare sector, combining the expertise and resources of both PureHealth and CVC.

Overall, this acquisition positions PureHealth as a formidable player in the European healthcare market, aligning with its vision of becoming a global leader in healthcare services.