Narayana Hrudayalaya to invest $100M for capacity expansion in Cayman Islands; stock gains 2%

Health City Cayman Islands, the step-down subsidiary of the company running an existing hospital in the Cayman Islands is expanding to a new location in the Camana Bay Development area of Grand Cayman.

Feb 22, 2021 10:02 IST India Infoline News Service

Narayana Hrudayalaya Limited will invest USD 100 million for capacity expansion in the Cayman Islands. The company said on Friday that Health City Cayman Islands Ltd (HCCI), the step-down subsidiary of the company running an existing hospital in the Cayman Islands is expanding to a new location in the Camana Bay Development area of Grand Cayman, the largest of the three islands which constitutes the self-governing territory of Cayman Islands.

HCCI is currently offering tertiary healthcare services to medical tourists and Caymanians from its existing unit in East End, which is located about 30 KMs away from George Town, the capital and hub of prominent activity of the nation.

The objective of the new facility is to expand the scope of super specialty treatment options offered by HCCI’s existing facility and offer medical services closer to the city center. The new facility will include an advanced Cancer Center which will offer comprehensive oncology treatment including bone marrow transplant, CAR-T cell therapy, medical oncology, haemato oncology, surgical oncology and radiation oncology. The new facility shall also offer robotic surgery, a neonatal intensive care unit, emergency and critical care, as well as a fully equipped radiology department.

At around 10.47 am, Narayana Hrudayalaya Ltd was trading at Rs468.80 per piece up by Rs10.15 or 2.21% from its previous closing of Rs458.65 per piece on the BSE.

The company will be discussing the expansion plans of HCCI on Monday in a virtual meeting.

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