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Next Next investments in Health HOME • INSIDER • CYPRUS • Investments in Health are starting
& nbsp & nbspΑδάμος Αδάμου & nbsp; & nbsp;
For some time now, the conditions for investments in the health sector in Cyprus have begun to mature, as evidenced by the interest that has already been shown in this direction, but also what is in the pipeline.
Specifically, about two and a half years after the implementation of the GESS, the health sector in Cyprus, one of the most crucial for any country, seems more ready than ever to evolve and upgrade. The private investments, made recently in the sector, have a decisive role in this direction, which will undoubtedly contribute to the modernization of the provided services but also to the general upgrade of Cyprus.
READ ALSO: & nbsp; Hadassah Health Park: Investment progresses in Lakatamia
In 2021, the large investment made by the American investment fund CVC, which acquired the private hospital Apollonio, was recorded for 83 million euros. For years, the investment fund CVC has made its presence felt in the Greek market, through the Hellenic Healthcare Group, since it has under its control six clinics in Greece. “Health”, the Metropolitan Hospital, the “Mother”, the Metropolitan General (formerly Iaso General), the “Leto” maternity hospital and the Creta InterClinic. It also controls the company Y-Logimed, which trades in medical devices, the AlphaLAB Genetics and Genomics Center and the Business Care company, which provides occupational safety and health services to businesses and organizations.
The acquisition of Apollonius puts Cyprus on the map of options for investment organizations that specialize in the field of health.
At the same time, other investment movements of CVC in the Cypriot market are expected with interest, since recently a lot of information has seen the light of day, which advocates in this direction.
Medicover b >
In addition, another very important investment agreement in the field of health services was recently implemented. The European giant Medicover announced that it is increasing its participation in the innovative Cypriot company NIPD Genetics and now controls 87.2% of the share capital. Medicover is investing an additional € 44 million, without borrowing, to increase its stake from 18.9% previously. Medicover, which has shown rapid growth in recent years, has invested in NIPD since 2019 and now acquires a very significant share in the Cypriot company producing innovative diagnostic products and not only, which also recorded strong growth in its short presence & nbsp; and now belongs to a group whose annual revenues exceed € 1 billion!
Project Bank with projects
“Undoubtedly, these are very important investments which are in line with the general upgrade of Cyprus as an investment destination”, the president of Invest Cyprus, Giannis Matsis, commented to “F”.
It is reminded that under development projects related to the health sector are included in the specialized database (Project Bank) created by Invest Cyprus. Project Bank includes projects under development from various sectors of the economy and the purpose of its creation is to function as a first point of contact of potential investors with investment opportunities in Cyprus.
“Since the new strategy of the Ministry of Finance to attract international companies is bearing fruit and we are pleased to see existing companies expand their activities as well as new ones to set up offices in our country, we must look in the direction of in the fields of Health, Education and Housing “, commented the president of Invest Cyprus. These are areas that are interconnected, creating significant benefits and prospects for further development, and it is in this direction that Invest Cyprus has been working in recent years, seeking to attract the interest of institutional investment organizations from abroad.
However, in recent years, higher education institutions in the country have also played an important role in the upgrading of health services in Cyprus, which have also invested significantly in medical programs, managing to attract students from all over the world. & nbsp;
Investments in the Health Sector and the National Recovery and Sustainability Plan
The Ministry of Tourism will also assist in further boosting investments in the health sector, since, within the framework of its actions for strengthening the country's tourism product, sponsorships for the development of health tourism are also included. In fact, the Ministry of Tourism has included a specific plan in this direction in the four sponsorship plans that will be announced this year, which have been included in the National Recovery and Sustainability Plan, which in turn gives weight and includes investments in the health sector./p>
As far as the Ministry of Tourism is concerned, it is specifically oriented towards the announcement, over time, of a sponsorship plan for the “creation of special facilities in tourist accommodation/hotels, with the aim of attracting medical tourism and health and wellness tourism”, for which eight million euros will be spent by 2026, in the framework of the implementation of the Recovery and Sustainability Plan (SAP).
As mentioned, the SAP itself emphasizes the health sector, including actions not only for reforms but also for investments in the . For the latter it is noted, among other things, that the chapter of SAA investments in the health sector includes, among others: the following:
• & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Creation of new facilities for the Blood Center and supply of modern technology (€ 4.3 million)
Innovative Information and Communication Technologies (ICT) System of Public Health of Cyprus (€ 5.7 million)
• & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp;
• & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Sponsorship plan for the purchase/replacement of medical equipment in public and private hospitals (€ 5.0 million)
• & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Accreditation scheme of public and private hospitals (€ 2.5 million)
• & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Improvement, modernization and upgrading of the public hospitals of Cyprus (€ 46.5 million):
• & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Creation and/or expansion of dialysis units in all public hospitals (€ 6.1 million)
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• & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Creation of a New Mental Health Hospital (€ 6.8 million)
• & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Support of Makarios Hospital to offer complete treatment to children for all cases (€ 23.4 million )
• & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Expansion of the Department of Invasive Radiology, including medical equipment, (€ 1.5 million)
< p> • & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Reinforcement of Accident departments & amp; Emergency in all public hospitals (€ 1.7 million)
• & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; of Paphos and Limassol General Hospitals (€ 4.7 million)
• & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Creation of a unit Communicable Diseases at Limassol General Hospital (€ 0.7 million)
• & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Development of general cross-border e-health services in Cyprus (€ 1.9 million)
• & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; & nbsp; Creation of a public system alert for support of emergency functions via SMS with additional options e.g. TV, social media, etc. (€ 4.5 million)
