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April 10, 2012

India, US join forces build $2bn health city in the Cayman Islands

Narayana Hrudayalaya Hospitals (NH), of India, has entered into a joint venture with US-based Ascension Health Alliance to build a health city in the Cayman Islands.

By Adam Hart

Narayana Hrudayalaya Hospitals (NH), of India, has entered into a joint venture with US-based Ascension Health Alliance to build a health city in the Cayman Islands.

The $2bn project, planned to break ground in August 2012, will include a multispecialty hospital, a biotech park, an educational facility and an assisted living facility.

Ascension Health Alliance’s president and chief executive officer Anthony Tersigni said that Ascension has been working with NH chairman and managing director Devi Prasad Shetty for two years, exploring ways of providing high-quality healthcare at a low cost.

"This joint effort will provide Ascension Health Alliance and its subsidiaries opportunities to examine and learn about different approaches to providing healthcare to all, with special attention to those who are poor and vulnerable, focusing on innovative ways to provide high-quality medical care at lower costs," Tersigni added.

Ascension Health will supply biomedical engineering services, supply chain management and facilities planning for the project, while NH will supply technical input and direction.

The first phase of the construction will include a 140 bed facility, which is scheduled to open in 2013.

Once the construction is complete, the hospital is expected to accommodate 2,000 beds and provide services such as angioplasty, open-heart / bypass surgery, heart-valve replacement, bone-marrow transplant, cancer treatment, nuclear medicine and organ transplants.

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