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