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Ygia Group Solidifies Its Position as Cyprus’ Largest Private Healthcare Provider with Eden Acquisition

by THEFUTURE.TEAM
July 17, 2025

Strategic Expansion in Health Infrastructure

The Ygia Group has completed its acquisition of Eden Medical Center, marking a significant step forward in its long-term strategy to expand health infrastructure across Cyprus and the broader Mediterranean region. With this move, Ygia now stands as the largest private provider of inpatient care in Cyprus, boasting more than 270 beds, and further reinforcing its reputation as a leader in patient-centered healthcare.

Integrated Healthcare Excellence

The acquisition follows a rigorous approval process by the Commission for the Protection of Competition, ensuring that Ygia Hospital, already the largest private hospital in Cyprus and fully integrated into the General Healthcare System (GeSY), continues to set high standards of medical service. Eden Medical Center, established in 2018 in Larnaca, is renowned for its comprehensive rehabilitation and palliative care services. These services address a wide range of medical conditions—from post-operative recovery to chronic illnesses—highlighting the center’s commitment to enhancing patient quality of life and dignified care.

Leadership Vision and Strategic Commitment

Savvas Liassis, Chairman of the Board of Directors of ECM Partners and the Ygia Group, emphasized that this acquisition is a critical milestone. “With this acquisition, ECM Partners, which holds over 90 percent of the Ygia Group, marks another important milestone in its long-term strategy to invest in health infrastructure in Cyprus and the wider region,” Liassis remarked. He further noted that Eden’s strong reputation in specialized care aligns seamlessly with Ygia’s vision of an integrated, patient-centric healthcare system. This strategic expansion supports a continued commitment to building resilient, accessible, and future-ready health systems across Southeastern Europe.

Expanding Comprehensive Care

Polyvios Dionysiou, CEO of Ygia, added, “Today we are pleased to announce the acquisition of Eden Medical Center by Ygia Hospital. This strategic move further strengthens our commitment to providing comprehensive and continuous healthcare, covering and coordinating the entire spectrum from hospital treatment to rehabilitation and eventual reintegration into daily life.” With Eden now a pivotal part of its network, Ygia ensures that patients benefit from consistently high standards of care and a holistic approach towards medical treatment and recovery.

Strengthening the Regional Healthcare Landscape

Founded in 1983 in Limassol, Ygia Hospital has consistently set benchmarks in healthcare with 560 staff members, 180 doctors, and a broad array of medical services including specialized diagnostic departments, accident and emergency units, and intensive care facilities. ECM Partners, with its extensive portfolio in Central and Southeastern Europe, continues to reinforce its strong market presence, following prior strategic investments in pharmaceutical and biotechnology sectors. This acquisition not only cements Ygia Group’s leadership in private healthcare but also underscores its role as a major force in elevating the region’s health standards.

EU E-Commerce VAT Systems Generate €257.9 Million Revenue for Cyprus in 2024

by THEFUTURE.TEAM
August 11, 2025

Robust Revenue Growth Through Streamlined VAT Collection

Cyprus has demonstrated a significant fiscal boost in 2024 with €257.9 million generated from the European Union’s e-commerce VAT systems, according to Tax Commissioner Sotiris Markides. This impressive performance underscores the effectiveness of the One Stop Shop (OSS) and Import One Stop Shop (IOSS) frameworks in simplifying cross-border tax compliance.

Simplified Procedures for EU and Non-EU Businesses

The OSS system allows Cyprus-registered businesses to streamline VAT declaration and payment on sales to consumers in other EU countries. Companies simply register on the local OSS platform, apply the consumer’s VAT rate, aggregate their submissions quarterly or monthly, and remit a single consolidated payment. Subsequently, Cyprus allocates the appropriate share to each respective EU country. This efficient process extends to non-EU sellers as well, who can have their intra-EU distance sales managed under the Union Scheme.

Breakdown of VAT Revenue Streams

Last year’s declarations under the various schemes illustrate the system’s broad reach: €217.9 million was collected via the Union Scheme, €36.9 million through the Non-Union Scheme, and €3.1 million via the Import Scheme. While the Union Scheme caters to both EU and non-EU sellers engaging in distance sales, the Non-Union Scheme specifically accommodates non-EU firms delivering services to EU consumers. Furthermore, the Import Scheme targets goods valued at less than €150 that are imported from outside the EU.

Implications and Broader Impact

Implemented in July 2021 as an evolution from the more limited MOSS system, these reforms have not only consolidated tax collection through an expansive OSS but also integrated the IOSS for low-value imports. By designating certain online marketplaces as “deemed suppliers,” the new framework ensures that VAT collection is both efficient and equitable. Across the EU, these mechanisms have generated over €33 billion in VAT revenues in 2024, reflecting a successful effort to simplify tax compliance, reduce administrative burdens, and promote fair taxation across the bloc.

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