A multimillion-euro deal has been signed for the acquisition of Evangelismos Hospital in Paphos, transferring ownership to foreign investors linked to the Hellenic Healthcare Group (HHG). The acquisition is pending approval by Cyprus’ Commission for the Protection of Competition (CPC), which must formally clear the transaction before it is finalised.
The agreement sees the full share capital of the private hospital transferred to HHG- a major healthcare provider in Cyprus and Greece- backed by CVC Capital Partners and the Abu Dhabi–based PureHealth Group. Once complete, this will mark another expansion of HHG’s portfolio of hospitals operating under Cyprus’ General Healthcare System (GHS/ΓΕΣΥ).
Sources estimate the Evangelismos Hospital sale to be worth several tens of millions of euros. It follows a similar pattern of previous acquisitions, including Apollonion, Aretaeio Hospital, American Medical Center, and radiology provider Gialletto Ltd- all of which now operate under HHG.
Who are the investors?
HHG is one of the fastest-growing healthcare groups in Southern Europe, with a strong footprint in both Cyprus and Greece. Its strategic growth has been largely fuelled by private equity funds, initially through CVC Capital Partners, one of the world’s largest investment firms, and now increasingly by PureHealth Group.
In early 2025, PureHealth acquired a 60% stake in HHG from CVC, in a transaction valued at €2.2 billion. Based in Abu Dhabi, PureHealth is the Middle East’s largest healthcare group, backed by the state investment fund ADQ and the multinational conglomerate IHC, with a combined asset base of over $445 billion.
PureHealth operates in five countries, managing over 100 hospitals and 300 clinics and employing more than 56,000 staff worldwide. One of its flagship international investments includes the £1.2 billion acquisition of Circle Health in the UK, the country’s largest network of private hospitals.
The group’s stated goal is to generate 50% of its revenue outside the Gulf Cooperation Council (GCC), with Cyprus clearly positioned as a strategic hub.
A cornerstone of Paphos healthcare
Evangelismos Hospital is one of the most advanced private clinics in Cyprus, offering services both privately and through GESY. Located in Paphos, it features:
- The region’s only licensed Intensive Care Unit (ICU)
- A short-stay unit
- Fully equipped radiology and clinical laboratories
- A wide range of specialised outpatient clinics (cardiology, neurosurgery, gynaecology, urology, orthopaedics, etc.)
- A staff of more than 40 doctors supported by experienced nursing teams
With its reputation for comprehensive, high-quality care, the hospital serves as a critical healthcare provider for the Paphos district.
Pending final approval by the CPC, the Evangelismos Hospital sale will mark another step in the consolidation of Cyprus’ private healthcare sector, and a deepening of foreign investor influence in local health infrastructure.
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