Doctors Hospital secures financing to construct new hospital in Grand Bahama

Doctors Hospital secures financing to construct new hospital in Grand Bahama

NASSAU, BAHAMAS — Doctors Hospital Health System Limited (“DHHS”) is aiming to revolutionize healthcare services on the island of Grand Bahama with plans to build a new hospital.

Construction is scheduled to be completed in the fall of 2024 and is expected to significantly improve access to medical care for residents on the island. 

Offering a range of specialized services, the new facility will be a vital part of the local community’s healthcare infrastructure, supporting local physicians and as a partner to the Rand Memorial Hospital.

DHHS is also considering the specific impacts of its strategic relationship with the Cleveland Clinic in quality benchmarking and long-range planning for service delivery in Grand Bahama.

“DHHS is demonstrating our ongoing commitment to the return of trust and confidence in the capabilities and capacity of the scope of healthcare services provided via the private sector in Grand Bahama,” said DHHS President and CEO Dr. Charles Diggiss. 

“The Rockwell Hospital will be an in-patient acute care hospital (Freeport) and is intended to become the signature DHHS facility going into 2025 as we continue to partner with the other providers in the Grand Bahama community – public and private – to meet the healthcare needs and exceed the patient care expectations.  

DHHS is collaborating with RBC Royal Bank (Bahamas) Limited (RBC) to facilitate the construction of a new state-of-the-art 30-bed hospital in Grand Bahama. RBC is committed to providing financing of up to $25 million.

“RBC remains Doctors Hospital’s preferred financing partner given the depth of their experience in corporate banking, the unmatched flexibility in structuring deals, and their deep sector knowledge in healthcare,” said Dennis Deveaux, DHHS Chief Financial Officer. “Our expansion in The Bahamas is anchored in the financing capacity RBC presents, based on DHHS’ balance sheet strength and the viability of our investment model. RBC then is a core partner in our growth,” Deveaux continued.

“We are proud to partner with DHHS on this important endeavor and to contribute to the improvement of healthcare in The Bahamas, specifically in Grand Bahama,” said Brian Knowles, Vice President, Corporate Banking at RBC. “By providing the necessary funding for the construction of this modern hospital, we aim to enhance the lives of residents by ensuring they have access to world-class medical services in their local community,” he added.

“This collaboration showcases RBC’s unwavering support in revolutionizing healthcare services on the island and improving access to quality medical care for residents,” said LaSonya Missick, RBC’s Managing Director, The Bahamas and Turks & Caicos. “It is through such partnerships that we can make a meaningful impact and drive positive change in the communities we serve.”