The Evangelismos hospital in Paphos is set to be acquired following the signing of a sale agreement, pending final approval from the Cyprus Commission for the Protection of Competition (CPC).

The buyer, Hellenic Healthcare Group (HHG), is advancing the acquisition, according to a report by Economy Today.

HHG is backed by global investment firm CVC Capital Partners and Abu Dhabi-based PureHealth.

The transaction covers 100 per cent of Evangelismos’ share capital, representing a strategic move in HHG’s continued expansion within Cyprus’ private healthcare sector.

The deal is reportedly valued in the tens of millions of euro and will further strengthen HHG’s footprint on the island.

In recent years, HHG has acquired Apollonion Hospital, Aretaeio Hospital, American Medical Center, and Gialletto Ltd, which specialises in diagnostic imaging and radiology services.

The acquisition of Evangelismos is being executed through HHG, with financial and strategic backing from both CVC and PureHealth.

HHG has emerged as a leading healthcare provider in southern Europe, managing hospitals and diagnostic centres in both Greece and Cyprus.

Earlier this year, PureHealth acquired a 60 per cent stake in HHG from CVC in a €2.2 billion transaction.

PureHealth is the Middle East’s largest healthcare group and is controlled by Abu Dhabi’s sovereign wealth fund ADQ and the International Holding Company (IHC), which manages assets worth $445 billion.

The group operates in five countries, overseeing more than 100 hospitals and 300 clinics, with a workforce of 56,000 and 1.4 million patients treated annually.

Its global strategy includes diversifying revenue streams, with a target of generating 50 per cent of earnings from outside the Gulf region.

PureHealth’s international portfolio also includes its $1.2 billion acquisition of Circle Health, the United Kingdom’s largest private hospital network.

Evangelismos, located in Paphos, is recognised as one of Cyprus’ most advanced healthcare institutions.

It serves both the private market and the national health system, Gesy, and houses the district’s only licensed Intensive Care Unit.

The hospital also includes a Short-Term Hospitalisation department, fully equipped radiology and clinical laboratories, and specialised clinics in cardiology, neurosurgery, gynaecology, urology, and orthopaedics.

A medical team comprising more than 40 doctors and a skilled nursing staff supports its role as a central healthcare provider for the Paphos district.