Thursday 27 February, 2020

American company to sell stake in Health City Cayman

US-based Ascension is selling its 50 per cent interest in Health City Cayman to Naranya Health of India.

It means that Health City Cayman Islands  will be wholly-owned by Naranya, which partnered with Ascension to purchase the 104-bed hospital in 2014.

While the details of the sale were not disclosed, the deal is expected to be completed during Ascension’s current fiscal year.

Forbes noted that the cost to build the East End based hospital was approximately $70 million.

Ascension, which is a faith-based healthcare organization, is expected to maintain close ties with Health City.

Get the latest local and international news straight to your mobile phone for free: