Latest news with #DimitrisSpyridis
Gulf Business
28-01-2025
- Business
- Gulf Business
UAE's PureHealth to acquire 60% stake in Greek healthcare group
Image credit: Emirates News Agency Abu Dhabi's 'CVC Capital Partners will retain 35 per cent of the business while CEO Dimitris Spyridis will own 5 per cent shareholding,' PureHealth said in a bourse filing. With a capacity of over 1,600 beds, HHG has cemented its position as a leading provider in Greece and Cyprus, delivering advanced medical services across a network of 10 hospitals and 16 diagnostic centres across Greece and Cyprus. With a team of over 6,700 healthcare professionals, HHG provides care for approximately 1.4 million patients each year. The healthcare services group offers a wide range of medical specialities, including advanced care in oncology, cardiology, and neurosurgery. The Abu Dhabi-listed healthcare platform said the acquisition is subject to regulatory approvals without disclosing a timeline for its completion. 'The acquisition represents a significant milestone in PureHealth's strategic expansion, reinforcing our presence in Europe and further solidifying our position as a leader in healthcare,' said Shaista Asif, Group CEO at PureHealth. 'Integrating HHG into our portfolio not only reinforces our position in Europe but also creates significant value for our group by contributing to revenue diversification, driving operational synergies and strengthening our financial performance.' Meanwhile, ADQ-backed PureHealth has been investing in recent years to grow its portfolio and expand globally. The group completed the acquisition of With a market capitalisation of $10.8bn (Dhs40bn) as of January 25, 2025, PureHealth's nine-month profit was 13 per cent year-on-year to Dhs1.4bn, while its revenues rose by 56 per cent to Dhs19bn. The healthcare firm operates more than 100 hospitals and over 300 clinics with 56,000-plus employees. Read:
Reuters
27-01-2025
- Business
- Reuters
Abu Dhabi's Pure Health agrees to buy 60% stake in Hellenic Healthcare
DUBAI, Jan 27 (Reuters) - Abu Dhabi's Pure Health Holding ( opens new tab said on Monday it had agreed to buy a 60% stake in Hellenic Healthcare Group (HHG), in a deal valuing the provider of private healthcare services in Greece and Cyprus at 2.2 billion euros ($2.31 billion). CVC Capital Partners ( opens new tab will retain a 35% stake in the business while HHG's CEO Dimitris Spyridis will keep the remaining 5% stake, Pure Health said in a statement, without disclosing a timeline for the completion of the deal. Pure Health, owned by Abu Dhabi sovereign wealth fund ADQ, has been investing in recent years to grow its portfolio and expand globally. Last year, it acquired British hospital operator Circle Health Group for around $1.2 billion, while in 2022 it snapped a 26% stake in U.S. firm Ardent Health Services. The deal on Monday will allow Pure Health to serve a further 1.4 million patients annually, it said, noting the move underscores the firm's "ambition to diversify its revenue streams and enhance operational efficiencies." It is also another step in Abu Dhabi's accelerating efforts to diversify its economy, as the UAE's capital invests in fields like technology and health to cut reliance on oil revenues. AI-powered healthcare company M42, backed by one of ADQ's bigger peers Mubadala, last week announced a new operating structure to support more acquisitions and expansion into new markets. ($1 = 0.9506 euros)
Zawya
27-01-2025
- Business
- Zawya
Abu Dhabi's Pure Health agrees to buy 60% stake in Hellenic Healthcare
Abu Dhabi's Pure Health Holding said on Monday it had agreed to buy a 60% stake in Hellenic Healthcare Group (HHG), in a deal valuing the provider of private healthcare services in Greece and Cyprus at 2.2 billion euros ($2.31 billion). CVC Capital Partners will retain a 35% stake in the business while HHG's CEO Dimitris Spyridis will keep the remaining 5% stake, Pure Health said in a statement, without disclosing a timeline for the completion of the deal. Pure Health, owned by Abu Dhabi sovereign wealth fund ADQ, has been investing in recent years to grow its portfolio and expand globally. Last year, it acquired British hospital operator Circle Health Group for around $1.2 billion, while in 2022 it snapped a 26% stake in U.S. firm Ardent Health Services. The deal on Monday will allow Pure Health to serve a further 1.4 million patients annually, it said, noting the move underscores the firm's "ambition to diversify its revenue streams and enhance operational efficiencies." It is also another step in Abu Dhabi's accelerating efforts to diversify its economy, as the UAE's capital invests in fields like technology and health to cut reliance on oil revenues. AI-powered healthcare company M42, backed by one of ADQ's bigger peers Mubadala, last week announced a new operating structure to support more acquisitions and expansion into new markets. ($1 = 0.9506 euros) (Reporting by Federico Maccioni, editing)
The National
27-01-2025
- Business
- The National
Pure Health to acquire majority stake in Greece's Hellenic Healthcare Group
Pure Health, the UAE's largest healthcare group, has announced plans to acquire a 60 per cent stake in Greece's Hellenic Healthcare Group (HHG) as part of its strategy to expand globally and diversify revenue streams. The deal values HHG, the largest private healthcare provider in Greece and Cyprus, at €2.2 billion ($2.3 billion), Pure Health said in a statement on the Abu Dhabi Securities Exchange, where its shares are traded. Currently, HHG is 90 per cent-owned by CVC Capital Partners VI, a fund managed by global private equity firm CVC, while its chief executive, Dimitris Spyridis, holds the remaining 10 per cent. On completion of the transaction, CVC Capital Partners VI and HHG management will retain a 40 per cent stake in the Greek company. The transaction, subject to regulatory approvals, highlights the group's 'ability in driving growth at scale", said Pure Health chairman Hamad Al Hammadi. HHG operates 10 hospitals and 16 diagnostic centres, serving 1.4 million patients annually. With a capacity of more than 1,600 beds and a team of at least 6,700 healthcare professionals, it offers specialised medical treatment in various fields such as oncology, cardiology and neurosurgery. Pure Health aims to integrate HHG's infrastructure into its existing network, boosting its international operations and targeting 50 per cent of its revenue from outside the Gulf region. The deal will add to Pure Health's revenue diversification, streamline operations to boost efficiency and strengthen its financial performance, said Shaista Asif, group chief executive of the company, said. The latest agreement follows previous Pure Health acquisitions in the UK and the US. Last January, it completed the Dh4.41 billion ($1.2 billion) acquisition of UK hospital operator Circle Health Group from Centene, a US-listed healthcare company. The Abu Dhabi company also acquired a 26.05 per cent stake in Ardent Health for $500 million in 2022 from Equity Group Investments, a US-based investment company, and supported its listing on the New York Stock Exchange last July. Founded in 2006, Pure Health became the largest healthcare provider in the UAE in January 2022 when it merged with the healthcare subsidiaries of Abu Dhabi holding company ADQ. In December 2023, it raised Dh3.62 billion from its initial public offering on ADX in an oversubscribed deal. It runs more than 100 hospitals and 300 clinics, as well as diagnostic centres and pharmacies. Its portfolio includes Seha, one of the largest healthcare networks in the UAE, as well as health insurance company Daman and healthcare procurement company Rafed.
