Abu Dhabi group buys majority stake in key Cyprus hospitals
Source: in-cyprus.com
Abu Dhabi-based PureHealth has acquired a 60% stake in Hellenic Healthcare Group (HHG) from CVC Capital Partners in a deal valuing the Greek hospital chain at $2.3 billion, expanding its presence in Greece and Cyprus.
The acquisition gives PureHealth control of HHG’s network of approximately 10 hospitals and 16 diagnostic centres, including Cyprus operations such as Apollonion Private Hospital, Aretaeio Hospital, and the American Medical Center.
CVC Capital Partners will retain a 35% stake in HHG, which operates more than 1,600 beds across its facilities. The founder will maintain a minority shareholding.
The deal marks PureHealth’s latest international expansion after acquiring Britain’s Circle Health Group and a stake in US-based Ardent Health Services.
The company aims to generate 50% of its revenue from markets outside the Gulf Cooperation Council countries.
For Cyprus, the acquisition promises significant implications for private healthcare development.
PureHealth’s backing is expected to enhance HHG’s local operations, potentially upgrading medical services and attracting further investment to the sector.
The move aligns with Abu Dhabi’s economic diversification strategy away from oil dependency, with healthcare as a key focus.
PureHealth, which raised $986 million in its 2023 IPO, is actively investing in healthcare innovation and global service delivery.
The original article: belongs to in-cyprus.com .
