Abu Dhabi’s Pure Health Holding has announced its agreement to acquire a 60% stake in Hellenic Healthcare Group, a leading private healthcare provider in Greece and Cyprus. The deal values HHG at €2.2 billion ($2.31 billion).

CVC Capital Partners will retain a 35% stake in HHG, while the remaining 5% will stay with the group’s CEO, Dimitris Spyridis. Pure Health did not disclose the expected timeline for the transaction’s completion.

Strategic Global Expansion

Pure Health, owned by Abu Dhabi’s sovereign wealth fund ADQ, has been actively expanding its portfolio and global presence. Recent high-profile investments include the $1.2 billion acquisition of British hospital operator Circle Health Group in 2023 and a 26% stake in U.S.-based Ardent Health Services in 2022.

With this latest acquisition, Pure Health aims to provide healthcare services to an additional 1.4 million patients annually, demonstrating its commitment to diversifying revenue streams and enhancing operational efficiency.

Broader Economic Context

The acquisition aligns with Abu Dhabi’s strategic push to diversify its economy by focusing on sectors like healthcare and technology, reducing reliance on oil revenues. Similarly, M42, an AI-powered healthcare firm backed by Mubadala, another sovereign wealth fund, recently introduced a new operating structure to support acquisitions and expand into new markets.

This move cements Abu Dhabi’s ambition to establish a global footprint in healthcare innovation and investment.