UAE’s PureHealth acquires 60% of Greek healthcare group
Abu Dhabi-based PureHealth has completed the acquisition of its majority stake in Hellenic Healthcare Group (HHG), according to the Financial Times on October 7th.
The €800 million (£693 million) acquisition gives PureHealth a 60% shareholding in HHG, Greece and Cyprus’s major private healthcare provider.
The deal gives PureHealth access to HHG’s 11 hospitals, 23 diagnostic centres and over 6,900 health care professionals. PureHealth will widen outreach its health services to over 1.4 million patients, per annum.
Following the deal, CVC Capital Partners and HHG management maintain a 40% stake in HHG.
“Finalising this transaction is an important milestone in our journey to create a globally connected healthcare platform,” said PureHealth’s chairman Kamal Al Maazmi.
Maazmi also said: “With HHG, we are now expanding into new geographies, facilitating knowledge exchange, and fostering innovation that will enhance patient outcomes across our network.”
HHG’s chief executive officer Dimitris Spyridis said: “Joining forces with PureHealth marks an important milestone for HHG.”
Spyridis added: “PureHealth has a large emphasis on technology, AI and healthcare of the future. Therefore we will be looking to integrate best practices not only in clinical practices, but also across the technology ecosystem.”
Purehealth’s acquisition of HHG follows its recent key developments, including a $1.2 billion (£895 million) purchase of UK hospital operator Circle Health Group and a $500 million (£373 million) investment in US operator Ardent Health Services during 2022.
PureHealth is the healthcare group in the Middle East with over 100 hospitals and more than 300 clinics, along with several diagnostic centres, health insurance solutions and pharmacies.
A signing ceremony took place in Greece, which was attended by Greece’s minister of national economy and finance, Kyriakos Pierrakakis, minister of health Adonis Georgiadis, Ambassador of the United Arab Emirates to Greece Dr Ali Obaid Ali Alyabhouni Aldhaheri, and senior figures from PureHealth, CVC Capital Partners as well as HHG.
Meanwhile, youth-led demonstrators have taken place in Morocco, in a bid to demand better healthcare. October 2nd marked the sixth protest in the recent national unrest. Three people were killed on the night of October 1st by security forces in Leqliaa amid the demonstrations.
Financial Times, Maghrebi.org
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