Good Morning, Junior Minister of Finance, the Hon. Wayne Furbert, Bermuda Hospitals Board CEO Scott Pearman, Chairman and Founder of Medical Concepts Consulting and Management Ltd, Lou Maroun, Executive Chairman, Michael Warren, Chief Executive Officer, Louis Desmarais, members of the media, and the people of Bermuda…
Today, we are here to formalise an exciting partnership between the Government of Bermuda and Medical Concepts Consulting and Management (MCCM) by the signing of a Memorandum of Understanding for the development of a world-class medical facility right here on our shores and the establishment of a medical tourism industry for the first time in our history.
MCCM is an internationally recognised leader in healthcare facility development. Its team of experts has worked on more than 300 International Healthcare Centre projects in 30 countries. Best of all, it is a Bermuda company led by Bermuda residents who will ensure the success of the enterprise is the success of the island.
An organisation with such a well-respected reputation could have chosen to build a new facility almost anywhere. Their decision to build right here in Bermuda is a further testament to the work of this Government, our stability, sound governance, and confidence in the future of Bermuda’s economy.
This project will be completed without government funding or loans. This shows that Bermuda, under this Government, can attract significant private investment for world-class development projects without taxpayers footing the bill.
It delivers on a platform promise to expand Bermuda’s tourism offering and establish a medical tourism sector. This new healthcare facility will bring patients from overseas to our shores, creating new economic activity in Bermuda. It will not compete with but instead enhance local healthcare access for Bermuda and its residents.
The development of this new facility will also create hundreds of jobs during construction and hundreds more once operational in medicine, science, diagnostics, hospitality, technical trades, and support services.
It will also open pathways for young Bermudians to work and training partnerships to help them build their skills and stay here at home. For those working abroad in these same sectors, opportunities will be available for them to return home with their wealth of experience to meaningful careers.
Bermuda is ready to become a world-class medical tourism destination, and today marks a significant step toward that goal. On behalf of the Government, I want to thank the Chairman and Founder, Lou Maroun and the MCCM team for their vision and commitment to Bermuda. It has been a long road.
I would also like to thank the Minister and Ministry of Health, the Minister and Ministry of Economy and Labour, and Junior Minister Wayne Furbert for their work on this project over the years. It has been a multi-ministry initiative to get us to this point. I also thank the Bermuda Hospitals Board for their work and collaboration.
We look forward to seeing the vision become a reality and to its positive impact for Bermuda and Bermudians. Thank you, and I now welcome the Chair and Founder of MCCM Lou Maroun to give a few remarks.