Shetty signs deal with US health company

Dr. Devi Shetty’s group of
hospitals has signed a deal with one of America’s biggest non-profit healthcare
service companies to help build and manage the proposed medical tourism
hospital in the Cayman Islands. 

Dr. Shetty, founder of the
Bangalore, India-based Narayana Hrudayalaya Group of Hospitals, and Dr. Anthony
Tersigni, president and CEO of Ascension Healthcare Alliance, based in St. Louis,
Missouri, signed a “document of public commitment” at the Ritz-Carlton in Grand
Cayman on Wednesday afternoon, 4 April. 

Under the new agreement, Dr.
Shetty’s group will manage the hospital while the Ascension group will handle
group purchasing, facilities management and biomedical engineering services,
Dr. Tersigni said. 

Ascension Healthcare Alliance,
described as the largest Catholic and non-profit healthcare system in the
United States, manages more than 17,000 beds spread across 1,400 locations in 21
states and the District of Columbia. Dr. Shetty’s group has 14 hospitals in 11
cities, with almost 5,600 beds. 

Dr. Shetty explained that the
combined purchasing and negotiating power of the two groups would impact
the costs involved in building a new hospital, purchasing and servicing
equipment, and buying drugs and disposable items. 

Their combined human resources
would also immediately provide staff for the Cayman hospital, he said, despite
a worldwide shortage of medical personnel. 

“Ascension Health has been working
with Dr. Shetty for two years to explore ways to adapt his success at providing
high-quality healthcare at low cost,” Dr. Tersigni said. “We’re excited to be
part of this venture. Together we are committed to bring first-rate healthcare
provided in a world-class setting.” 

Dr. Shetty plans to build a
“healthcare city” in Cayman, eventually consisting of 2,000 beds that will
offer medical tourism facilities to patients from the United States, the
Caribbean and Latin America. The first phase of the project, based in East End,
is scheduled to break ground in August and to begin operation in 2013 with an
initial 140 beds. 

The proposed healthcare city will
include a tertiary care hospital, an educational facility, a biotech park and
an assisted living facility. According to the Shetty group, the hospital will
eventually offer open heart/bypass surgery, angioplasty, heart-valve
replacement, cancer treatment, bone-marrow transplant, organ transplant and



  1. This is splendid news on the road to a Healthcare City in Grand Cayman! Now if only someone can come up with a way to energize, excite, and reinvigorate the moribund economic scene on Cayman Brac – to provide employment for the jobless folks on Cayman Brac – that would be an excellent benefice for this island and the other two.

  2. I am really pleased to see that the opposition to this project has died down…And it’s good to see that this along Cayman Enterprize City are getting off the ground…

  3. But the government has to change the agreement with Shetty.

    Shetty’s agreement with government is that Shetty hospital doesn’t have to pay duty…on anything. Period. And there is no time limit in the clause.

    50% off duty is fair. To completely wave the duty is insane. Becuase I can see Shetty opening up his own shipping company next, once the hospital is built. As long as the shipments are registered as Shetty hospital he’s not going to have to pay duty on anything 8).

    Didn’t fall off the yam wagon yesterday, Mr Shetty 8)

  4. Sounds good-now we need to realize that Cayman will need a modern trash system (incineration needed) to dispose of Hospital waste safely. While the new dump is being reviewed Hospital waste must also be reviewed.

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