The deal is now signed.
After several months of negotiations and a two-year market search, BayView hospital is about to change hands.
Directors of the private health care facility have concluded a $5 million plus agreement for its sale to a local consortium, led by businessman Peter Harris.
The deal, which is expected to be finalized over the next three months, was initialled by Harris earlier this week in his capacity as chairman of VKC Inc., along with directors of BayView Hospital Limited and Bay Cottage Holdings limited, owners of the four-acre-plus Beckles Road, St Michael property.
Chairman William Duguid could not be reached today for comment and, when contacted, director Dr Shirley Jagaroo said she could not speak on the matter.
However, in confirming the development, Harris, who has an interest in the Diagnostic Radiology Group –– which operates from Sandy Crest, St James; Coverley, Christ Christ Church; and Beckles Road, St Michael –– said he was partnering with leading gastroenterologist Dr Kwame Connell on this latest commercial venture.
Harris has promised that the same high quality and professional health care, on which BayView has earned its reputation over the past 24 years, will be maintained.
He also said that with the change of ownership, there would be no name change and that current staff complement at BayView would be retained.
However, the 11-room private facility (which includes seven private rooms and four semi-private rooms) is to be expanded over the next 12 to 24 months.
Since 2010, BayView has been on the selling block, but previous efforts to seal a deal have fallen through. Earlier this year, a company headed by cardiologist Dr Alfred Sparman made an unsuccessful bid for the hospital, which has been operated by a consortium of 16 doctors. Before that, another group of private doctors had also made a play for ownership of the medical facility. (KJ)