Barbados World-Class Hospital to Serve Global Medical Tourism Market
Barbados World-Class Hospital to Serve Global Medical Tourism Market
Invest Barbados today announced that a new world-class hospital will be built on the site of the former St. Joseph Hospital as part of a long-term development program that will also bring several specialty treatment centers, biotechnology research companies and patient accommodation facilities to the country over the next five years.
"This exciting initiative brings a national asset back into productive use in a way that will generate foreign exchange, international investment and tax revenue, as well as employment and skills training and technology transfer," said Wayne Kirton, the CEO of Invest Barbados.
The project is being undertaken by American World Clinics ("AWC"), a corporation that supports, arguably, the most respected healthcare brand in the world--board-certified American physicians--by providing them with a favorable practice environment in which to provide the highest standard of medical care to an international clientele.
Registered as a Barbadian corporation, American World Clinics expects to attract investors from the United States, Canada and the United Kingdom who are interested in the potential of medical tourism. The primary market for AWC's hospital and care services and facilities in Barbados will be patients from the UK and North America, but treatment will also be available to Barbadians and other international clients seeking private medical and surgical care.
The project will bring numerous benefits to Barbados, Mr. Kirton explained. The estimated construction and equipment cost of the first phase of foreign investment is approximately BDS$92 million, providing jobs for about 200 Barbadians.
Once operations begin, approximately 230 persons will be employed at the facility in a range of job categories. AWC has pledged to hire locally whenever possible.
The development will generate the equivalent of BDS$200 million per year in foreign exchange during its first few years, according to conservative estimates, with that figure rising steadily over the longer term.
The main facility will include 12 operating rooms, 50 inpatient/overnight beds capable of swing capacity to support critical care needs, 20 outpatient exam rooms, a separate cosmetic dentistry area, diagnostics, radiology and laboratory facilities and a wellness, spa and recuperative component.
Over the next five years, as part of the program, branches of internationally known specialty treatment centers from the United States, as well as several medical equipment and biotechnology research companies are expected to open. Patient and family accommodation facilities will also be developed.
