The Fee for the Safety of Competitors (CPC) had no authorized impetus to dam the acquisition of a medical facility by a US investor, the company stated on Wednesday.
Fee chair Eva Panjari was talking within the wake of Paphos mayor Phedonas Phedonos and different political leaders expressing issues over a “well being companies monopoly” being carved out within the island’s sector.
Phedonos had additionally spoken out over the poor state of the Paphos hospital, accusing the federal government of irresponsibility after a baby died and introduced up the phenomenon of personal hospitals selectively offering “money-spinning” companies.
The US investor in query, CVC Capital Companions, by its Greek subsidiary Hellenic Healthcare Group had purchased up first the Apollonion and Aretaio personal hospitals in Nicosia. With its newest acquisition of the American Medical Centre (American Coronary heart), additionally in Nicosia, the corporate acquired slightly below 40 per cent of the market share, Panjari instructed the CyBC, and was thus not in violation of any anti-monopoly regulation.
Following Phedonos’ accusations to media, the CPC had put out a press release saying that the unbiased physique operated other than any opinions of “personal or public entities”.
“The fee decides on a authorized [case-by-case] foundation and the buy-out of the American hospital that got here earlier than us was examined intimately, by way of variety of beds and what number of sufferers had acquired remedy, each out and in of the Gesy [state healthcare] system,” Panjari stated.
Apollonion and Aretaio now function below Gesy, whereas the American is to stay personal, in accordance with projections.
There isn’t any high ceiling for what share of the market any purchaser can take over and the matter rests on how competitors is taking part in out at any given second, she stated.
“With the information we had earlier than us when the buy-out occurred, there was no motive for it to cease. We had no information exhibiting that competitors was compromised,” Panjari stated.
Moreover, the dimensions of the market dictates limits to competitors, she stated.
“It doesn’t rely upon us to what diploma anybody can buy a hospital in or out of Gesy.”
She added that Okypy [the state health service organisation] has a 55 per cent share which is the “lion’s share”, she stated. Furthermore, the accountable authority for regulating the well being sector was the state medical health insurance organisation (HIO).
“Cyprus is a small nation and we will’t have a great deal of hospitals,” Panjari continued, likening the island’s well being amenities to its airports and ports.
“Monopolies or oligopolies could emerge in sure sectors so long as they don’t abuse their dominant place.”
