The sale of the 500,000 Voting Participating Common Shares to Health City Cayman Islands Ltd. was finalized on February 12, 2025. The proceeds will help expand Doctors Hospital’s services, particularly in surgical care, and increase access to healthcare throughout The Bahamas and beyond. Both Doctors Hospital and Health City are accredited by Joint Commission International (JCI).
Dr. Charles Diggiss, President and CEO of Doctors Hospital, commented, “This relationship with Dr. Devi Shetty, renowned cardiac surgeon and Chairman of Narayana Health, Health City’s parent company, has grown significantly through his exceptional team at Health City. Health City is a ‘gold standard’ partner that values the ‘best-in-class’ quality of our Doctors Hospital brand. We are honored by this confidence from such a remarkable Caribbean healthcare organization. Through this partnership, we are already benefiting from improved economies and better purchasing costs, which will help make our services more affordable in Nassau.”
Dr. Diggiss added, “Health City has formally aligned its vision with ours, ensuring mutual success across the region. Most importantly, this collaboration provides patients in The Bahamas with referral access to advanced, affordable healthcare services at Health City in the Cayman Islands.”
Dr. Binoy Chattuparambil, Clinical Director, and Shomari Scott, Chief Business Officer at Health City Cayman Islands, shared, “Health City is committed to providing high-quality, affordable tertiary care in the Caribbean. This partnership strengthens our ability to serve the Bahamian community and supports Doctors Hospital’s future growth. Together, we are paving the way for improved healthcare access and patient care across the region.”
Dennis Deveaux, CFO of Doctors Hospital, added, “This relationship with Health City will lower purchasing costs for Doctors Hospital, benefiting patients through more affordable healthcare services at our clinics and emergency room. Additionally, Health City offers a more affordable regional option for Bahamian patients in need of specialized services not available locally.”
KPMG LLP, Cayman Islands, advised Health City on the transaction. Sam Story, Head of Deal Advisory at KPMG, said, “We are thrilled to have supported this successful deal for Health City, which will create synergies and contribute to the continuous improvement of healthcare in the Caribbean.”
