Medical Services

The Government of Cyprus aims in the differentiation and enrichment of the tourism sector by focusing on the promotion of health services. Health services tourism is a developing industry that combines medical treatment with vacation. Health services address the needs of ill tourists, providing medico-pharmaceutical care and stay in hospitals and recuperation centres.

Sector Synopsis

Expenditure of health services was €1,065 million in 2008, €517 million (48.56%) of which constitutes expenditure of the public sector and €548 million (51.46%) of the private sector
The share of expenditure as a percent of GDP increased from 6.0% in 2007 to 6.2% in 2008
Six public General Hospitals: two in Lefkosia, and one each in Limassol, Larnaca, Ammochostos and Paphos
Investment in new buildings accounted for €19.5 million and €15.5 million in machinery and equipment
Other specialized medical institutes, offering services in:
–Cancer treatment

–Organ transplants

–Services on bone marrow

–Cardiac surgery procedures and non-invasive Cardiac surgery

–Neurology and Genetics

Infrastructure Statistics:

The Cyprus University of Technology offers courses in “Health Services”
A Medical School at the University of Cyprus will begin offering degrees by 2016

Specialized medical institutes in Cyprus include:

The BOC Oncology Center for cancer treatment
The Paraskevaidio Surgical & Transplant Foundation for organ transplants
The Karaiskakio Foundation for services on bone marrow
The American Heart Institute for cardiosurgical procedures

Source: Health Insurance Organization

Advantages/Opportunities

Cyprus welcomes investor interest in Health Services. Several FDI opportunities exist to build and transfer or operate centers offering care in several fields including: pathology, general chirurgical, heart operation, plastic chirurgical, ophthalmology, gastroenterology, pediatric, otorhinolaryngology, obstetrics and gynecology, urology, orthopaedics. In particular, centers providing these specialized services:

Cardiac Surgery interventions
Kidney transplants
Renal insufficiency care
Oncology services
Preventive/diagnostic tests
Dental examinations/treatments
Surgical remedial or aesthetic surgery/treatment
Rehabilitation for people who need long recovery after surgery
Mental rehabilitation
Rehabilitation for patients with respiratory problems
Neurosurgery
Other medical services such as orthopedic, plastic surgery, gynecology, in vitro fertilization, gerontology, rheumatology, endocrinology, dermatology, nature cure, etc.