The American Medical Center and the American Heart Institute in Nicosia

Greece’s HHG takes stake in American Medical

1 min read

The Hellenic Healthcare Group (HHG), owner and operator of nine leading private hospitals in Greece and Cyprus, has added the American Medical Center and the American Heart Institute in Nicosia to its portfolio of healthcare facilities and services.

The value of the deal and the size of the equity stake were not disclosed.

The AMC, originally founded as the ‘American Heart’ in 1999 and later expanded to become a full-service hospital, joins HHG members in Nicosia, the Apollonion Hospital and the Aretaio Hospital, both of which are part of the state-funded General Health System (GHS), also known as ‘Gesy’.

The AMC also operates a Limassol clinic, which is undergoing expansion with a “vision for a new, world-class private hospital in the heart of the city, with a mission to revolutionise healthcare standards.”

Designed by award-winning architects from London, AMC Limassol will span across 12,900 square metres, with ten floors, two basement levels, and ample parking for visitors and staff.

In its announcement, AMC said it has “reached a partnership agreement in the private sector providing health services and therefore substantial participation of HHG in the share capital of AMC.”

“This development is expected to further strengthen the services offered and contribute to the continuous provision of high quality health services and meeting the needs of patients on an islandwide basis.”

It concluded that “more detailed information regarding the strategic priorities of the partnership will take place after the final approval of the competent authority.”

Established in 2018, Hellenic Healthcare Group is the largest private health care group in Greece and its primary shareholder is CVC Capital Partners, one of the largest private equity investment funds worldwide, with significant expertise in the hospital sector, especially in southern Europe.