Investment group Dequity Capital Management Limited (DCML) has acquired a 40 per cent stake in Royale Medical Hospital.
The investment, valued at more than $200 million, is the latest move by Dequity to diversify its portfolio of companies and manage overall risks.
“This merger has been months in the making. Being a part of Royale Medical helps satisfy one of our most important goals for Dequity, which is providing an integral service to Jamaica. Healthcare has been at the forefront since the start of this pandemic, and we are excited to play our role in improving the healthcare services in Jamaica,” said Dequity CEO Adrian Smith.
The Savanna-La-Mar-based hospital is a leading private hospital, offering general medical care and services in obstetrics in addition to gynaecology, urology, dermatology, orthopaedics, physiotherapy and diagnostics.
The partnership between Royale and Dequity is expected to accelerate Royale’s long-term goal to expand into the major cities in Jamaica (Montego Bay and Kingston).
Royale will also be refitted with new devices and see an overall improvement of the current facility to carry out its mandate of offering world-class healthcare in Jamaica.
“We are thrilled to work with Dequity Capital to drive the next phase of our growth journey. Royale employees, clients, and partners are the source of our success and inspiration, as we create a thriving ecosystem that delivers accessible, high-quality and sustainable healthcare for all. We will continue to operate and refine our spirit of excellence through empathy and integrity,” said Dr Evan Nepaul, principal of Royale Medical.
Dequity’s investment spans several sectors: real estate, education, digital and print media, cambio services, micro-financing and now healthcare.
Smith noted that diversification is a primary method of protecting investors’ interests.