PureHealth, one of the largest healthcare conglomerates in the Middle East, has announced the acquisition of a majority stake in the European hospital operator Hellenic Healthcare Group (HHG)The UAE company will acquire the 60% from HHG, valued at $2.3 billion.
The agreement marks a significant step in PureHealth's international strategy. The objective of the agreement is to generate the 50% of its income outside the Gulf Cooperation Council (GCC) in the medium term. This acquisition reinforces the company's expansion in Europe. The purchase follows the acquisition of Circle Health Group in the United Kingdom and a stake in Ardent Health Services in the USA.
Impact of the agreement
According to Hamad Al Hammadi, president of PureHealth, the acquisition of HHG “strengthens our position as a global leader in healthcare” and underscores its commitment to “delivering transformative care and setting new standards of excellence globally.”
Hellenic Healthcare opera 10 hospitals and 16 diagnostic centers in Greece and Cyprus. More than 100 companies operate in its centres 6,700 health professionals. The group attends to 1.4 million patients annually, which reinforces its importance in the region's healthcare system.
PureHealth's stake also represents a change in HHG's ownership structure. Prior to the transaction, CVC Capital Partners VI owned 90% of HHG, while the company's founder held 10%. Following the sale, CVC will retain 35% of the shares, while the remaining 5% will belong to the founder.
PureHealth CEO, Shaista Asif, stressed that this acquisition "not only strengthens our presence in Europe, but also creates significant value by diversifying our revenues and optimizing operational synergies."
Furthermore, this move reinforces PureHealth’s image as an international powerhouse in the healthcare sector, consolidating its global network in key markets such as Europe, the United States and the GCC.
PureHealth Tour
PureHealth has not only grown in Europe. It recently bought Circle Health Group, the largest private hospital operator in the UK, for 1.2 billion dollars. In addition, it acquired a stake in 26,05% at Ardent Health Services for 500 million dollars in 2022.
This international expansion positions PureHealth as a key competitor in global healthcare, with a clear strategy to diversify and strengthen its presence outside the GCC.
With the agreement with Hellenic Healthcare, the Emirati company not only strengthens its presence in Europe, but also expands its network of services and patients, consolidating its role as a global leader in the healthcare sector.
