PureHealth Holding PJSC, the largest healthcare group in the Middle East, has agreed to acquire a 60% stake in Hellenic Healthcare Group (HHG), the largest private healthcare provider in Greece and Cyprus, in a transaction that values HHG at $2.3 billion.
HHG is currently owned 90% by CVC Capital Partners VI and 10% by the founder of HHG. PureHealth will acquire a 60% stake in HHG, with CVC Capital Partners retaining 35% ownership, while the remaining 5% stake in the company is held by the founder.
Following completion of the transaction, CVC Capital Partners VI and HHG Management will retain a 40% stake in HHG, continuing as a strategic partners to support the company's growth and transformation. This partnership ensures that HHG will benefit from the combined expertise, resources, and global networks of both PureHealth and CVC, driving operational excellence and unlocking further opportunities in the healthcare sector.
The Greek and Cypriot healthcare markets present a highly attractive, untapped opportunity, characterised by favourable growth prospects. A significant proportion of healthcare spending in Greece is out-of-pocket, indicating unmet demand and opportunities for private healthcare providers to fill critical gaps in accessibility and quality. The market dynamics are supported by a growing demand for advanced medical services, a rising focus on private healthcare solutions, and increasing investment in healthcare infrastructure.
PureHealth has consistently expanded its portfolio, establishing itself as a global healthcare leader. Last year, the group completed the acquisition Circle Health Group, the UK's largest independent operator of hospitals, for approximately $1.2 billion. Additionally, PureHealth acquired a 26.05% stake in Ardent Health Services for $500 million in 2022 and supported its successful IPO on the New York Stock Exchange in July last year.
