Cyprus Elective Surgery Centre (CESC) will be the name of the clinic and Cyprus Private Health Direct, (CPHD) will be the name of the company. The surgery centre will primarily undertake joint replacement surgery and arthroscopy and develop a reputation for fast, safe turnaround of patients at industry beating prices within EU.
As a company, through our Medical Tourism Cyprus platform, we will also provide a broad range of additional private medical services such as IVF, plastic surgery and other types of treatment, in co-operation with our reputable partners. Effectively, we will be an efficient 'one-stop shop', for medical treatment in Cyprus.
After CESC has had twelve months of sustained levels of operations at 2 operations per day average, a new centre based on the same principles will be established in Paphos.
The time frame for this is likely to be around 2 years from initial establishment of the Limassol centre. The majority of the funds for this will be raised via IPO on the Cyprus Stock Exchange. Cyprus-based fund managers can be expected to get involved at that point for the following reasons.
- CPHD will have proven the business model.
- There will always bee a need for reliable and professional medical services.
- CPHD will be on an upward curve of a strong growth-phase.
- CPHD will establish one new centre each year.
- CPHD will expand it's medical tourism activities and create a dedicated medical tourism team that will promote Cyprus Medical Tourism globally.
UK patients will form a significant part of patients for CESC, but it is absolutely expected that Cyprus-based patients both from the private sector and GESY will also form part of the patient profile coming to CESC. In addition, CPHD will attract patients from other countries outside of Cyprus.
There are 2 primary reasons for establishing a UK company:
- UK patients will prefer to deal with and pay into a UK entity
- The intention is to seek a second IPO on the London Stock Exchange after 3 years in order to establish the first centre in the UK.
The IPO in London can be expected to raise a significant amount of funds toward the first UK-based centre and will also increase awareness of the company. The first centre would likely be on the outskirts of London, with other centres, based on the same model in other major population centres. (i.e. Manchester, Birmingham, Liverpool)
Despite high UK private healthcare costs, there is no reason why CESC patient fees will be higher in UK. Commercial property costs in UK aren't so different to Cyprus, salaries may be a little higher but not prohibitively so. In fact, the salaries for Surgeons and Anaesthetists for Cyprus are based on UK NHS rates.
In addition, having a presence in UK will make insurance-paid treatment for UK patients simple and possibly, we may get NHS referrals.
The business model will be identical in all centres with logo, staff 'uniforms', colour schemes and style of operation. The underlying company value will be Trust and Safety. This in turn will be underpinned by the highest standards of business management and customer/patient service.
Given that CPHD is a medical service company, trust and safety are paramount. We will also build a reputation for speed of response and treatment/surgery. Having a centre with a single operating room with an exclusive orthopaedic specialty keeps operational matters un-complicated.