The Cyprus Commission for the Protection of Competition (CPC) has received a new concentration notification concerning Polyclinic Ygia’s plan to acquire the share capital of Elias N. Elias I.E.P.E., the company operating the well-established Ophthalmology Centre of Limassol. The transaction is being carried out through Vlepo Limited, a special-purpose vehicle created exclusively for this deal.

According to the CPC filing, Polyclinic Ygia is one of Cyprus’s largest private healthcare providers, operating the Ygia Hospital in Limassol and the Edem Medical Centre. Vlepo Limited, which submitted the notification, exists solely as the acquisition vehicle for the proposed transaction.

The target company, Elias N. Elias I.E.P.E., operates the Ophthalmology Centre of Limassol, founded in 1994 by Dr Elias Elias. Over three decades, the centre has grown into one of the leading day-surgery clinics for ophthalmological procedures in Cyprus. 

The move marks another step in Polyclinic Ygia’s expansion strategy in the Cypriot healthcare sector. Established in 1983, Ygia is the country’s largest private hospital and, since its integration into the national health system (GESY) in September 2023, provides full inpatient, outpatient, emergency, maternity and paediatric services. With 560 staff and 120 collaborating doctors, Ygia remains one of the biggest private healthcare employers in Cyprus.

This development comes shortly after another major acquisition by the Group. Earlier this year, Ygia finalised the purchase of the Edem Rehabilitation and Palliative Care Centre in Larnaca, a deal that secured all necessary CPC approvals.

The Group’s shareholders had described Edem’s integration as a milestone in their long-term strategy to develop a comprehensive patient-centred healthcare ecosystem across Cyprus and the wider region.

With the latest planned acquisition of the Ophthalmology Centre of Limassol, Polyclinic Ygia continues to consolidate its presence in specialised medical services. The deal is now under review by the Competition Commission, which will assess whether it raises any concerns for competition in the healthcare market.