PureHealth Holding, the largest healthcare network in the United Arab Emirates, has made a strategic move into Greece and Cyprus by acquiring a 60% stake in Hellenic Healthcare Group (HHG), the region’s leading private hospital and diagnostic center network. This acquisition is expected to trigger significant restructuring efforts within the company to streamline operations and enhance financial stability.
The restructuring process will be carried out in collaboration with CVC Capital Partners, which now holds a 35% stake, and HHG’s founder, Dimitris Spiridis, who retains 5% ownership. The market anticipates substantial strategic and operational adjustments, particularly aimed at addressing financial challenges faced by certain units within HHG’s portfolio.
One such case is Leto Maternity Clinic, which, despite generating €11 million in revenue in 2023, recorded operating losses of €2.58 million, post-tax losses of €2.90 million, and administrative expenses amounting to €2.9 million.
The exact details of the restructuring plan are expected to be unveiled in the coming months, with industry observers closely watching PureHealth’s first steps in managing HHG’s 10 hospitals and 16 diagnostic centers across Greece and Cyprus.
