This hospital system was originally announced back in 2010 and has been moving along slowly and the reason for the Cayman location of course is to attract more US citizens looking for medical tourism savings.
Cayman Islands Partner with India Surgeon To Build Medical “City” Facility With Focus on Attracting US Patients
Speaking of Ascension Health, just a couple months ago they inked out an agreement with a Private Equity Firm. Oak Hill Capital will invest $400 million and assume $495 million in debt. Ascension which was created in 1999 currently has 69 hospitals in 20 states. The agreement also allows for the hospitals t adhere to the teachings of the Catholic religion.
Ascension Health and Private Equity Firm Oak Hill Capital Form Joint Venture To Buy Catholic Hospitals and Health Systems
As I understood the facility was supposed to be under construction last year but it doesn’t sound like that has happened yet but all the contracts seem to be lining up. Speaking of the Caymans’s Aetna likes it there too with a re-insurance policy that I’m sure they were able to generate some income from as well. BD
Aetna Takes Out Reinsurance Deal In The Cayman Islands- $150 Million to Kick When Medical Loss Ratio Hits 104%
Dr. Devi Shetty has partnered with a major American health company to create his proposed medical tourism hospital in Grand Cayman.
On behalf of his Narayana Hrudayalaya Hospitals of India group, the cardiologist signed a “document of public commitment” Wednesday, 4 April, with Ascension Health Alliance, the largest Catholic and nonprofit health organisation in the United States.
The agreement was also signed by Cayman Islands Premier McKeeva Bush and Minister of Health Mark Scotland, although the hospital will be a private enterprise with no government ownership.
Ascension will own part of the new hospital in Cayman under the partnership deal and will handle group purchasing, facilities management and biomedical engineering services, while Dr. Shetty’s group will manage the running of the hospital.
Dr. Tersigni said he hoped the collaboration between Ascension and the Narayana groups would not only benefit Cayman and the Caribbean region, but also impact how health care is delivered in the United States, as his organization learns from Dr. Shetty’s innovative approach in India to providing low-cost, quality care.
The Shetty hospital is slated to be built on 200 acres of High Rock in East End. Last month, the developers of the project hired local firm Clan Construction to build the hospital, which Dr. Shetty describes as a “health care city”, similar to facilities he has already built in India, which offer low-cost medical care to cancer and cardiology patients.