CTMH announced today that it has been acquired in a share acquisition by CTMH Holdings Ltd., the newly formed holding company for a group of Caymanian, international and local investors, among them many of the Hospital’s physicians. The new holding company has also purchased land and buildings, and certain related companies to form a leading group of medical companies under the CTMH brand.
CTMH was founded by the vendor, Dr Steve Tomlinson, and first opened in May 2000. Dr Tomlinson will remain at CTMH focused exclusively on his patients. Dr Tomlinson’s daughter Nadine Brown‐Tomlinson joins the newly appointed supervisory board of CTMH, sustaining the Tomlinson family’s connection with the hospital.
“CTMH is an outstanding facility built on the vision to provide exceptional healthcare to the Cayman Islands, a legacy I remain incredibly passionate about. I sincerely believe it is in the best interest of our Islands that the physicians and medical practitioners, all of whom are deeply attached to CTMH, are able to continue to grow the hospital. I know the hospital has a strong future under the governance of this experienced CTMH team and I am proud to pass the baton to this new generation of leaders,” says Dr Steve Tomlinson.
The new leadership will focus its efforts on developing the Hospital and meeting the increasing demand for high quality on‐island medical services and patient‐centred care, while at the same time working with the Hospital’s best in field practitioners and consultants. The team has identified both opportunities for long‐term growth and immediate improvements to the infrastructure and patient experience.
“We recognize the need to provide truly coherent care and support for our patients, placing them at the centre of all we do. CTMH’s success comes down to putting patients first and this remains at the heart of the new team’s philosophy,” says CTMH’s Radiologist, Dr Yaron Rado. He continues “We have some ambitious growth plans and now we have financial support; the next few years represent a tremendous opportunity to build on CTMH’s history of exceptional healthcare. We’re delighted to have reached an agreement with the previous shareholders and founders of the hospital. We would also like to thank our employees, patients and partners for their loyal support over the past 16 years.”
CTMH offers a wide range of medical services including state‐of‐the‐art diagnostic and imaging capabilities, including the most advanced MRI system in the Caribbean; family practice and paediatric medical care, ear nose and throat surgery, neurosurgery, laparoscopic and general surgery, bariatric surgery, thoracic surgery, obstetrics and gynaecology, podiatry, pain management, orthopaedic surgery & sports medicine. The Hospital also regularly hosts a variety of visiting expert specialists offering care in many fields.
Legal advice for CTMH Holdings Ltd. was provided by Stuarts Walker Hersant Humphries, James Smith and Simon Yard (acquisition, equity and financing documentation) and Buck Grizzel (real estate and local legal compliance matters). The transaction was financed by RBC Royal Bank and is set to secure the business’ future as the Cayman Islands leading healthcare facility, and position the hospital for future expansion. RBC provided a sophisticated finance structure combining mortgage and business funding, arranged by Dr Geza Toth–‐Feher, a corporate financier from London, who joins the board of the company as a non‐executive director.
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