TrinCay Medical Services will expand into Seven Mile Beach’s Caribbean Plaza shopping center in late summer, retaining its Camana Bay clinic and offering new specialties in neurosurgery; ear, nose and throat; cardiology and psychiatry.
The new 3,200-square-foot TrinCay Medical Services Caribbean Plaza will host up to 16 consultants, including dermatology, obstetrics and gynecology, plastic surgery – including post-surgical breast reconstruction – and a new laboratory and pharmacy, in addition to equipment and “four or five” new physicians, said Dr. Howard Deosaran, TrinCay medical director.
“We want to have a comprehensive roster of physicians able to provide good healthcare to people,” he said. “We want to expand into the Seven Mile Beach area,” improving public access in the 878 West Bay Road plaza, with 42,000 square feet of commercial space in four buildings, already occupied by Caribbean Utilities Company, the Bodden & Bodden and Priestleys law firms, Havana Club and the Royal Bank of Canada.
“We are bringing in highly qualified people from the U.S., the U.K., Jamaica, Canada and South Africa – places with major medical registries,” Dr. Deosaran said. “We’ll make it a one-stop spot for people so it’s convenient.”
He is planning to install laser equipment, serving dermatology and plastic surgery, which he described as “much more hard-core medicine, rather than cosmetic surgery,” an ultrasound, a vaccine machine and a photo-finder for mapping moles.
He said investment in the new clinic was relatively modest – about $300,000, although the payment model for physicians is unique.
“I started 11 years ago with $17,000. When I left the Cayman Islands Hospital, I built an 800-square-foot clinic with two chairs and one exam bed. I have no investors and no partners,” he said. “It’s just myself and my wife and I own 100 percent of TrinCay Medical Services.”
He said the laser equipment, out of the U.S., would cost roughly $100,000; fitting out and construction, $90,000; and “other equipment,” approximately $100,000.
Monthly rent for the new Caribbean Plaza premises is $36 per square foot, while maintenance and insurance runs another $750 per square foot for the five-year term of the lease.
Dr. Deosaran described physician salaries as “significant,” but said they were expected to generate their own fees and recruit their own patients.
“We pay them handsomely, I can say,” said Dr. Deosaran, “and our staff is very loyal.”
He acknowledged that physicians might earn far more in the U.S., but said the staff is “here for something else. People want quality of life. We have always paid them a salary, and they will continue to work that way in the new quarters.”
As if to underscore Dr. Deosaran’s remarks, on Friday Premier Alden McLaughlin, commenting on the U.K. vote to leave the European Union, said “In this sea of uncertainty, Cayman is an increasingly attractive place to live, work, invest and do business … the sound financial position of the Cayman Islands government and the growing strength of our economy make us an excellent option for businesses and investors looking for a safe haven amid the current political and economic turmoil.”
Dr. Deosaran said he did not anticipate TrinCay’s expansion would encompass an inpatient facility … at least not yet.
“I don’t want to be married to this,” he said. “I have a wife and children and I don’t want this to take over.
“In 10 years, you know, I might see a stand-alone surgical unit. TrinCay has been in the forefront of specialists with our dermatologists and cardiac specialists, pediatrics and neonatology. We have grown organically and we need to bring these physicians onto the island.”