PureHealth to Acquire 60% Stake in Hellenic Healthcare Group for €2.2 Billion, Expanding European Presence

DUBAI: Abu Dhabi’s PureHealth Holding has acquired a 60% stake in Hellenic Healthcare Group (HHG), a private healthcare provider based in Greece and Cyprus. The transaction values HHG at €2.2 billion ($2.31 billion).

Under the agreement, CVC Capital Partners will retain a 35% stake in the company, while HHG’s CEO, Dimitris Spyridis, will hold on to the remaining 5%. PureHealth did not specify a timeline for completing the deal.

Owned by Abu Dhabi’s sovereign wealth fund ADQ, PureHealth has expanded its portfolio in recent years, aiming for a broader international footprint. Last year, the company acquired the UK-based Circle Health Group for around $1.2 billion, and in 2022, it took a 26% stake in U.S.-based Ardent Health Services.

Shaista Asif, PureHealth’s Group CEO, commented on the acquisition, saying, “Integrating HHG into our portfolio strengthens our position in Europe, diversifies revenue streams, and enhances operational synergies, which will positively impact our financial performance.” She added, “This move is a key part of our strategy to become a global leader in healthcare, with over 50% of our revenues now coming from outside the GCC.”

With this acquisition, PureHealth is set to extend its reach, serving an additional 1.4 million patients annually. The company highlighted that this deal is a step toward diversifying its revenue base and improving operational efficiencies.

The deal also aligns with Abu Dhabi’s broader strategy to diversify its economy beyond oil, with the capital city investing in key sectors like technology and healthcare. Recently, AI-driven healthcare firm M42, backed by Mubadala (a key ADQ partner), announced a new strategy to fuel further acquisitions and global expansion.