Expansion of Bahamian Healthcare System
The expansion of Bahamian healthcare through an equity offering has been listed on the BISX. The chief financial spokesperson of a healthcare provider stated that the capital it seeks to raise and the structure of the funds are still being discussed with its financial adviser. Mr. Deveaux informed this to the media that the company’s plan on aggressive expansion will create private healthcare facilities in The Bahamas wherever there is “critical mass and economic viability.”
Extending beyond Grand Bahama, there is a substantial degree of market interest in Doctors Hospital’s mandate for future growth. While beginning ground on a new hospital in Freeport, we are completing the clinic’s check list in Eight Mile Rock. Mr. Deveaux said, “We’re conducting the final safety, quality, and risk inspection for the brand-new Eight Mile Rock clinic, and we’ll be opening the clinic in June, as well as breaking ground on our new facility in Exuma.” It will likely be a common equity offering, and one of the projects we will fund is the hospital in Grand Bahama.” Initially, the BISX-listed healthcare business considered spinning off its Grand Bahama health facilities through an issuance of shares to new investors. A clinic is about to open at Eight Mile Rock, and we are preparing to begin building of a clinic in Exuma.
We are establishing a quality care center and clinic in Carmichael, as well as building infrastructure into the Meldon Plaza in Palmdale. We have a really ambitious expansion strategy, and we’re pleased to discuss what that implies for the extension of healthcare services in the country over the next quarter. Mr. Deveaux acknowledged that the “healthcare shortfalls” of The Bahamas were well-known and stated, “Our president, Dr. Charles Diggiss, has been quite clear about his vision for healthcare. Doctors Hospital is moving swiftly to improve both care quality and access to private medical treatment on the island. We are aware that the people of Grand Bahama have long desired more options, and while the public healthcare system remains in place as a support network, those who seek options must frequently fly to south Florida.
Hospital invested $425,000 in acquiring all the medical and equipment-related assets that originally belonged to Okyanos, the stem cell therapy provider that occupied the First Commercial Centre and is now in liquidation under the supervision of the Supreme Court. This includes a laboratory for catheterization. We bought everything remaining in the store. We anticipate repurposing not so much the medical equipment, but rather the valuable furniture and fittings,” Mr. Deveaux explained. “We are re-equipping and re-opening a catheterization laboratory that was previously just partially functioning. We have bought some really valuable assets, which we intend to exploit for the betterment of healthcare in Grand Bahama.