Sets sights on stock exchange listing
Dequity Capital Management has fully acquired Winchester Surgical and Medical through Royal Medical Hospital with plans to merge the two entities, thus forming the Royal Winchester Medical Group and listing on the Jamaica Stock Exchange.
The company invested close to J$800 million to get the transaction closed, and the total value of the group is now J$2.3 billion.
Founder of Dequity Capital Management, Kadeen Mairs, who broke the news to Our Today, said that through this investment the company was able to expand its healthcare portfolio.
“The merger will help us to build out our hospital network as we look to provide high-quality healthcare to Jamaicans, returning residents, and visitors to the country. This is a part of our increased efforts to expand our healthcare portfolio, so now we’re in Kingston and Westmoreland,” said Mairs.
The investment group acquired a 40 per cent stake in Royal Medical Hospital in Westmoreland last year valued at more than J$200 million.
The Savanna-la-Mar-based hospital opened in 1996 and is a leading private hospital that offers general medical care and services in obstetrics and gynaecology, urology, dermatology, orthopaedics, physiotherapy, and diagnostics.
With the merger, the group will offer a full suite of medical services, with plans to improve infrastructure and acquire new machines.
“With this partnership and Dequity being a major stakeholder, we will ensure the business is properly capitalized to grow to the next level. We continue to offer the same services but at a higher level with new machines and infrastructure. We will also ensure that all stakeholders including nurses, doctors, and administrative staff are taken care of in the best possible way so that they can in turn take care of others,” he told Our Today.
Over the next couple of years, the investment company is looking to establish a presence in Montego Bay and the South Coast closer to Mandeville.