Abu Dhabi-based PureHealth, one of the biggest healthcare companies in the Middle East, has reportedly signaled the purchase of a 60% stake in the Hellenic Healthcare Group, and for a reported consideration of 2.3 billion USD.
CVC Capital Partners VI holds 90% of Hellenic Healthcare Group, a private hospital and diagnostics operator with a significant presence in Greece and Cyprus. The remaining 10% is held by the group’s founders.
Hellenic Healthcare operates 10 to private hospitals (Metropolitan, Ygeia, Mitera etc) and 16 diagnostic centers in Greece and Cyprus, with a capacity of 1,600 beds and treating around 1.4 million patients annually, along with more than 6,700 medical and care professionals on its rolls.
After the purchase by PureHealth, CVC Capital Partners will retain a 35% stake, while the remaining 5% will be held by the group’s founders.
PureHealth is controlled by the Sovereign Wealth Fund ADQ. The development marks a continuing expansion of the group beyond the GCC.
“The expansion into Europe strengthens our position as a global healthcare leader and our commitment to delivering transformative care and setting new standards of excellence globally,” according to PureHealth chairman Hamad Al Hammadi.
Hellenic Healthcare operates 10 hospitals and 16 diagnostic centers in Greece and Cyprus, with a capacity of 1,600 beds and treating around 1.4 million patients annually, along with more than 6,700 medical and care professionals on its rolls.
According to reports, PureHealth had previously completed the buyout of Circle Health Group, the UK’s largest independent operator of hospitals, for approximately 1.2 billion USD. Also, it acquired a 26.05%-stake in US-based Ardent Health Services for 500 million USD in 2022.
PS the CVC practically owes all major companies in Greece but now it’s apparently time to slowly start disinvesting …
“PS the CVC practically owes all major companies in Greece but now it’s apparently time to slowly start disinvesting …”
Perhaps they think that under the brilliant leadership of Adonis Georgiadis the public healthcare system is going to improve so much that nobody will need to pay for private treatment?
yeah, right