#Abu Dhabi #UAE #PureHealth #Hellenic Healthcare #CVC Capital

PureHealth Expands Global Presence

In a landmark move, PureHealth Holding PJSC, recognized as the largest healthcare group in the Middle East, has announced its agreement to purchase a 60% stake in Hellenic Healthcare Group (HHG) for an impressive $2.3 billion. This strategic acquisition underscores PureHealth's ambition to enhance its global operational footprint while aligning with CVC Capital Partners, a leading global investment firm, which currently owns 90% of HHG.

Hellenic Healthcare Group: A Leader in European Healthcare

Hellenic Healthcare Group has rapidly established itself as a prominent provider of healthcare services in Greece and Cyprus, operating a network of ten hospitals and 16 diagnostic centers. HHG serves approximately 1.4 million patients annually, bolstered by a workforce of over 6,700 healthcare professionals and a capacity of more than 1,600 beds. Notably, HHG excels in various medical specialties, including oncology, cardiology, and neuro-surgery, while also offering substantial fertility treatments and home healthcare services.

Strengthening International Collaboration

The collaboration between PureHealth and CVC underscores the potential for significant expansion within the burgeoning healthcare markets of Greece and Cyprus. Notably, the current landscape presents a considerable opportunity for private healthcare providers, as a substantial portion of healthcare expenditures are out-of-pocket, revealing unmet patient needs and demonstrating the potential for growth in quality and access.

PureHealth aims to leverage this acquisition to not only enhance the quality of healthcare services available but also to expand its global operations amid increasing demand for advanced medical solutions. Hamad Al Hammadi, Chairman of PureHealth, noted, "This collaboration with international leaders like CVC highlights PureHealth’s capability to drive large-scale growth."

Enhancing Patient Care and Operational Excellence

Post-acquisition, PureHealth envisions a complete integration of HHG's infrastructure and services into its existing network. The ultimate goal is to elevate service provision to new standards of excellence. Shaista Asif, CEO of PureHealth, remarked on the significance of this acquisition as a pivotal step in the company's European expansion strategy. He stated, "This integration not only strengthens our position in Europe but also creates significant value for our group through revenue diversification and operational synergies."

Future Prospects and Market Expansion

The successful integration of HHG will see PureHealth providing quality healthcare to an even larger population, further solidifying its commitment to innovative care solutions. This acquisition is part of a broader strategic expansion for PureHealth, which has previously included the purchase of Circle Health Group in the UK, further confirming its role as a global leader in healthcare services.

Following the closure of the deal, CVC will retain a 40% stake in HHG, ensuring their continued partnership to drive HHG’s growth and transformation within the European healthcare sector. Alex Fotakidis of CVC expressed confidence in the management team at HHG and the potential for further enhancement of patient care within the platform.

Conclusion

As PureHealth positions itself as a leader in the ever-expanding healthcare industry, this acquisition will not only enhance its service capacity but also underscore its commitment to innovative healthcare solutions across the globe. With such strategic maneuvers, the company is well on its way to redefining patient care standards and expanding its footprint in key international markets. The transaction remains pending regulatory approval, with further updates expected upon closure.