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According to banking sources , the Arab health group Pure Health (Abu Dhabi) is acquiring 60% of Hellenic Health Care Group , which is owned by the American fund CVC Capital (55%) and the businessman Mr. D. Spyridis (5%). The acquisition of Pure Health, which is expected to close in January , is the second largest acquisition in Greece by an Abu Dhabi company , as it was preceded by the acquisition of Terna Energy by Masdar. Since last September, the two sides have been in negotiations for many months and recently signed a preliminary agreement for the transfer of shares in order to acquire control of 10 hospitals operating under the Hellenic Health Care Group group (Health, Metropolitan hospital, Metropolitan General, Mitera, Leto, Creta Interclinic, City Hospital, Apollonius – Aretaeio Cyprus). According to the data, the hospitals serve over 1.3 million patients annually with 6,700 doctors and 5,359 employees. After the first acquisition of CVC (Health – 280 million euros) in recent years, acquisitions have been made in Greece and Cyprus, while significant investments were made in both equipment and specialized doctors. As for the financial price of the agreement, CVC’s valuation for 100% was around 2.1 billion euros, therefore the agreement is estimated at close to 1.3 billion euros, with the largest part of it being financed by Eurobank . The latter is the

Advertisementlargest creditor for CVC companies in Greece and with the transaction it also launches expansion into the UAE market, an area which is a strategic goal for the Greek bank.
This is the first major “exit” from CVC Capital’s investments in Greece , as it has been six years since the first placement with the acquisition of “Hygeia”.
The health sector has recorded the highest profits over time, given that, in the last two years alone, the fund’s management company in Luxembourg has received a return of capital of 261 million euros from the subsidiaries HHG I and HHG II, while in 2022 the return of capital from Hygeia amounted to 83 million euros.

Acquisition of Leto shares by HHG

The Arab group Pure health is based in Abu Dhabi and, after its majority stake in the largest health group in Greece and Cyprus, is making its second acquisition in Europe. Previously, it had acquired a majority stake in the largest British health provider Circle Health Group for 1.3 billion dollars . As part of the agreement for the transfer of 60% to the fund from the United Arab Emirates, on December 30, 2024, Hellenic Health Care group acquired 2.7 million shares of the Leto maternity clinic, for 19.1 million euros (7.0710 euros).
CVC is on an exactly opposite course in Germany, after making an investment related to the health sector. In early December, the now listed private equity firm CVC Capital submitted a public offer for the acquisition of the listed health software group Compu group, offering 22 euros per share, a 33.5% premium over the stock market price.
The German group employs more than 9,200 employees and is present in 56 countries with 1.3 million users.

Pafilas Dimitris
dpafilas@yahoo.com
www.bankingnews.gr