PureHealth Holding PJSC, the parent company of Hellenic Healthcare Group (HHG), reported revenues of €4.72 billion for the first nine months of 2025, marking a 6 percent increase compared with the same period last year. EBITDA rose 11 percent to €820 million, while net profit grew 8 percent to €360 million. PureHealth began consolidating HHG into its financial statements on October 1, 2025, meaning the full impact will appear in the company’s 2025 annual results.
Only weeks ago, PureHealth completed the acquisition of a 60 percent stake in HHG for €800 million, valuing Greece’s largest private healthcare group at €1.33 billion. The final valuation stands in stark contrast to the figure initially communicated by HHG’s previous majority owner, CVC Capital. On January 27, 2025, CVC had announced an agreement to sell the same 60 percent stake at a price implying a total valuation of €2.2 billion for HHG. Under that earlier estimate, the stake should have been worth €1.32 billion. Instead, PureHealth secured the acquisition for roughly €500 million less. It remains unknown how CVC justified this substantial gap to its own investors; no public explanation has been issued.
According to industry sources, PureHealth Group CEO Shaista Asif did not find the Greek healthcare landscape exactly as expected, and the integration of HHG’s network—comprising 11 hospitals and 23 diagnostic centers—has already proved challenging. The Emirati owners are described as highly hands-on, scrutinizing every aspect of operations.
HHG’s CEO, Dimitris Spyridis, who still holds a 5 percent stake in the company, is believed to be experiencing considerably more pressure under PureHealth’s ownership structure than during CVC’s tenure. With CVC retaining a 35 percent minority position, the demands on HHG’s management have reportedly intensified sharply as PureHealth pushes for deeper oversight and higher performance standards.
