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Cypriots may soon see noticeable changes in their healthcare services following a significant acquisition deal involving PureHealth, an Abu Dhabi-based healthcare company. In a transaction valued at $2.3 billion, PureHealth has purchased a 60% majority stake in the Hellenic Healthcare Group (HHG), a network of hospitals and medical centers that operates extensively in both Cyprus and Greece. CVC Capital Partners, which previously held full control, will continue to hold a 35% share in the business.
This deal is part of PureHealth’s aggressive international expansion strategy, with the company, controlled by the Sovereign Wealth Fund of Abu Dhabi (ADQ), continuing to push into European markets. For Cyprus, this means a new phase of growth for some of the island’s most important healthcare institutions, including Apollonius Hospital, Aretaeion Hospital, and the American Medical Center (American Heart). A second American Medical Center is also set to open in Limassol, strengthening the healthcare network on the island.
Hellenic Healthcare Group currently operates a total of 10 hospitals and 16 diagnostic centers across Cyprus and Greece, providing services to thousands of patients. In Cyprus alone, these facilities include well-known hospitals, such as the American Medical Center in Nicosia and Limassol, which are crucial to the local healthcare infrastructure. With over 1,600 beds in total across its facilities, HHG’s presence in Cyprus is a cornerstone of the private healthcare system.
PureHealth, with a market value of approximately $11 billion and a global workforce of over 56,000 employees, operates more than 100 hospitals and 300 clinics. This new acquisition in Cyprus marks a clear commitment to the island's healthcare sector and presents a significant opportunity for enhancing medical services in the region.
For local residents, the acquisition could lead to improved healthcare services, as PureHealth’s resources and expertise are expected to contribute to advancements in medical technology, staff training, and patient care. This is especially important as the demand for quality healthcare services in Cyprus continues to rise, with more people seeking specialized treatments and advanced medical options.
While PureHealth’s expansion brings exciting possibilities, it also signals a shift in the local healthcare landscape. The involvement of a major international player could mean increased competition, better facilities, and possibly lower costs for some services. It’s an opportunity to elevate the standard of care available to Cypriots, while also increasing the country’s attractiveness as a medical tourism destination.
With CVC retaining a significant stake in the company, it’s clear that Cyprus remains a key focus for HHG’s ongoing growth. The deal is expected to have a positive impact on the healthcare sector in Cyprus, with potential for further investment in medical infrastructure and innovation.
