Pittsburgh, PA and Nicosia, Cyprus (PRWEB) February 27, 2009
The University of Pittsburgh Medical Center (UPMC) and Paphos Plantations Ltd. (PPL) - a member of the Leptos Group - announced today that they are collaborating to develop a world-class health care center in Paphos, Cyprus, designed to offer a wide range of medical services to both local residents and foreign visitors to this Mediterranean island.
Under the agreement, UPMC will manage a new 100-bed hospital and the existing 36-bed Iasis Hospital in Paphos. With its global expertise in providing clinical, technological and hospital management services, UPMC will assist the new health complex in developing centers of excellence in such areas as oncology, transplantation, aesthetics, cardiology, orthopaedics and minimally invasive surgery.
"By working with the Leptos Group, one of the largest and best-regarded real estate development companies in Cyprus, UPMC can extend its excellent, patient-focused health care to another part of the world," said Jeffrey A. Romoff, UPMC president and chief executive officer. "Patients in Cyprus and throughout the region will benefit from our global health enterprise as it engages the best physicians, nurses and scientists worldwide."
The new hospital, named Neapolis, to be completed in three to four years, will be an integral part of PPL's mixed-use development. The project is expected to include a university, research center, office park and luxury lifestyle housing, as well as retail, entertainment, cultural and leisure facilities, in one of the largest landscaped parks on the island. The 23-year partnership with UPMC will be the first health care venture for PPL.
"With its long track record of success in managing international health care projects and its reputation as a health care leader and innovator, UPMC is a natural partner for us in this ambitious undertaking," said Michael Leptos, chairman of the Leptos Group. Leptos has more than 45 years of experience in real estate and tourism. "Despite the economic climate, we are confident that the new Neapolis health center will be a success, filling the need for more health care options in Cyprus and alleviating long wait times for many patients seeking specialized care. In addition, these facilities will be well-positioned to attract patients from throughout the Middle East and Europe as medical tourism grows throughout the region," he added.
UPMC's services in Cyprus will include on-the-ground senior management for the hospitals, staff training, equipment procurement and implementation of sophisticated information systems. UPMC expects to develop medical services that are now in short supply on the island, including comprehensive cancer services at Iasis Hospital. "With our management of two cancer centers in Ireland and our recently announced plans to develop at least 25 more cancer centers throughout Europe and the Middle East with our partner, General Electric Company, patients in Cyprus can expect to benefit from our extensive network of treatment and research capabilities," said Charles Bogosta, president of UPMC's International and Commercial Services Division.
The new health center is expected to serve both public patients and those with private insurance. To help meet the demand for medical services, the government of Cyprus is moving forward with health insurance legislation that would further open the market to private hospitals.
In addition to the Neapolis project, UPMC's international portfolio includes management of the independent Beacon Hospital in Dublin, Ireland, two cancer centers in Ireland and a leading transplant hospital in Palermo, Italy. UPMC also provides emergency medical services and training in Qatar and is deploying electronic medical record technology at Newcastle upon Tyne Hospitals in the United Kingdom. By leveraging its medical, technological and management expertise, UPMC expects to generate revenue that it can reinvest in its health care and research mission at home and abroad.
UPMC is an integrated global health enterprise headquartered in Pittsburgh, Pennsylvania, and one of the leading nonprofit health systems in the United States. As western Pennsylvania's largest employer, with 50,000 employees and $7 billion in revenue, UPMC is transforming the economy of the region into one based on medicine, research, and technology. By integrating 20 hospitals, 400 doctors' offices and outpatient sites, long-term care facilities, and a major health insurance services division, and in collaboration with its academic partner, the University of Pittsburgh Schools of the Health Sciences, UPMC has advanced the quality and efficiency of health care and developed internationally renowned programs in transplantation, cancer, neurosurgery, psychiatry, orthopaedics and sports medicine, among others. UPMC is commercializing its medical and technological expertise by nurturing new companies, developing strategic business relationships with some of the world's leading multinational corporations and expanding into international markets, including Italy, Ireland, the United Kingdom and Qatar. For more information about UPMC, visit our website at http://www.upmc.com.
PPL is owned 100 percent by Pandora Investments (Public) Limited (PND), which represents one of the largest real estate development companies in Cyprus, with sizable operations in Greece. PND in turn is a member of the Leptos Group of Companies and is listed on the Cyprus Stock Exchange. PPL is the sole owner of the Neapolis land, and its charter is the development of Neapolis, the new, ambitious planned community of Cyprus in the southeastern Mediterranean.
Leptos Group of Companies (LGC) has identified its name with the development of the town of Paphos and has transformed the industry of holiday homes in the entire region. LGC operates mainly through three companies, two of which are listed on the Cyprus stock exchange and has more than 45 years of experience in real estate and tourism. LGC maintains a diversified presence in critical sectors of the economy including: real estate property development, design and construction, hotel ownership and management, travel and large mixed-use schemes. LGC has significant international presence with office representations throughout Europe, Balkans and Russia. For more information about Leptos, visit our website at http://www.leptosestates.com.