Sustainability

Sustainability

To achieve its sustainability goals, the Fund is negotiating with seasoned general contractors in the hospitality and multi-family space, insuring the Fund’s ability to credibly and successfully manage the establishment and growth of its portfolio. The acquisition of seasoned construction capability is critical as we address the dearth of senior living in the region and introduce options similar in characteristics to what is commonly available in the United States The Fund has under contract, letter of intent, or in negotiation several targeted investments.

To accommodate the reverse trend of islanders migrating to the U.S. for retirement living, the Fund is establishing options for independent senior living and assisted living in Jamaica, the British Virgin Islands and the U.S. Virgin Islands. In each instance, there is an affiliated group of Bambu credentialed health care professionals and an associated hospital, where privileges have been granted.

Creating world-class health and wellness destinations is a complex task. We have considered a variety of factors, including:

  • Government and private sector investment in health care infrastructure.
  • Demonstrable commitment to international accreditation, quality assurance and transparency of outcomes.
  • International patient flow.
  • Potential for cost savings on medical procedures.
  • Political transparency and social stability.
  • Excellent tourism infrastructure.
  • Sustained reputation for clinical excellence.
  • History of health care innovation and achievement.
  • Successful adoption of best practices and state-of-the-art medical technology.
  • Availability of internationally trained, experienced medical staff.
  • Dermatology and cosmetic surgery.
  • Dentistry (general, restorative, cosmetic).
  • Cardiovascular (angioplasty, CABG, transplants).
  • Ophthalmology.
  • Orthopedics (joint and spine; sports medicine).
  • Cancer (often high-acuity or last resort).
  • Women’s Health.
  • Scans, tests, health screenings and second opinions.

The world population is aging and becoming more affluent at rates that surpass the availability of quality health care resources. In addition, out-of-pocket medical costs of critical and elective procedures continue to rise, while nations offering universal care are faced with ever-increasing resource burdens. These drivers are forcing patients to pursue cross-border health care options either to save money or to avoid long waits for treatment. Patients Beyond Borders estimated in 2017 that the worldwide medical tourism market is growing at a rate of 15 to 25 percent annually with inbound patient flows highest in Mexico, Southeast Asia and South Asia. A study on the global medical tourism market, recently published by Transparency Market Research (TMR) estimates this market to rise at an exceptional compound annual growth rate (CAGR) of 17.9 percent from 2013 to 2019 and reach a value of US$32.5 billion by the end of the forecast period.

The research report, titled “Medical Tourism Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 – 2019,” states, “the worldwide medical tourism market attained a value of US$10.5 billion in 2012.

“Medical tourism is defined as traveling from one location to another with a purpose to gain medical assistance. Generally, people from developing nations travel to developed countries for medical treatments that are unavailable in their own countries due to poor medical and health care infrastructure. However, in recent years, people residing in developed economies have also begun traveling to lesser developed countries to gain cost-efficient medical assistance.” According to this study, “the falling cost of medical procedures in the Philippines, India, Singapore, Thailand, Mexico, Malaysia, Brazil, Turkey, Taiwan, South Korea, Poland, Costa Rica and Dubai is encouraging people to travel to these countries for their treatment and, in turn, is propelling the global medical tourism market significantly.” In addition, “the widening range of medical treatments available in these nations, coupled with technical advancements in the field of medical and health care, is likely to boost this market greatly during the forecast period,” states the Medical Tourism Market report.

Nations with significant low- and lower-middle-income (LMI) populations, essentially the groups situated between the very bottom of the pyramid and the existing middle class, have huge unmet needs and face quite a bit of instability. These challenges can be addressed by innovative business models. We believe companies serving this demographic represent an under-tapped opportunity, both for financial returns and for outsized impact. The LMI segment represents a major market opportunity. For example, in Latin America and the Caribbean, the purchasing power of the LMI population is estimated at $405 billion according to a World Bank/International Finance Corporation (IFC) report published in 2010. Investments in growing businesses found in these markets are considered “Frontier Capital.”