IDB Invest Approves $5 Million to Increase Anti-COVID-19 Capacity for Bahamas’ DHHS
IDB Invest, a member of the IDB Group, approved a $5 million loan to Doctors Hospital Health System Limited (DHHS), the largest private hospital in The Bahamas, to support its working capital needs and meet the evolving requirements of the Bahamian population, especially related to COVID-19 services.
In addition to the financing, IDB Invest will work with DHHS to update its Hazardous Material Plan around wastewater management and provide resources to conduct a pre-feasibility study on the use of solar PV generation at its primary location.
COVID-19 has spread to approximately 15 Bahamian islands, most of which lack the healthcare infrastructure required to process tests or address cases requiring hospitalization. IDB Invest’s loan will allow DHHS to provide an extension of COVID-19-related services in response to the country’s emerging needs, ensure adequate testing capacity, and enhance healthcare services through the adoption of business innovations.
The transaction will allow DHHS to emerge in a stronger position to serve its patients, adding expanded outpatient services, including on other islands.
The evolution of the pandemic has underscored that access to health services remains a challenge for many people. IDB Invest continues to seek ways to support projects that expand response capacity to COVID-19.
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. With a portfolio of $13.1 billion in asset management and 385 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
About Doctors Hospital Health System Limited (DHHS)
Formerly named The Rassin Hospital, Doctors Hospital was founded in 1955 and following a change in ownership and a major expansion DHHS became a publicly traded company in 1999. DHHS comprises two unique facilities. Its 72-bed acute care primary facility, Doctors Hospital, provides a full range of inpatient and outpatient services. The satellite facility, Doctors Hospital West (formerly Bahamas Medical Center) offers elective day case surgery, lab and imaging, rehabilitation services and a range of other healthcare services and programs. Today, DHHS is among the most modern acute care privately owned healthcare facilities in the Caribbean with more than 500 associates and 200 physicians on staff.