Private equity group to launch tech-based medical service here

A Jamaica-based private equity group is preparing to launch a payments platform and a technology-enabled medical service in Barbados in the coming weeks.

Delta Capital Partners, headed by Barbadian Ivan Carter, made the announcement, saying that it will be bringing a suite of high-impact products and services to Barbados, geared at disrupting digital commerce and health services.

Outlining the health and wellness solution that Delta will introduce to the market here, Carter explained it would be done through the Telehealth platform which was developed in the UK by leading medical practitioners, and provides online-first support, focusing on reversing Type 2 diabetes and obesity without the use of medication.

“Typical treatment for Type 2 diabetes is via multiple medications including insulin. Our platform changes that approach to treating diabetes and obesity by bringing together medical experts and researchers, with specialist doctors, nurses, dieticians, and psychologists into a protocol to reverse Type 2 diabetes and obesity.

“Utilising nutrition and lifestyle changes, technology, and virtual interactions, the team guides individuals to take control of their health without medication and with a healthy mindset. This solution is already operational in the UK, Brazil, Malaysia and will be rolled out in Barbados and Thailand in 2022,” Carters said, adding that other health conditions, including mental health, respiratory, and heart diseases, will be added to the slate soon.

The group will also be launching a fintech payments platform, initially with credit cards, debit cards, and a digital wallet. The platform will be built-out to include products such as digital gift cards, digital point-of-sale using smartphones, a crypto and digital currencies exchange, online lending facilitation and other e-commerce related tools.

The payment products were developed in Jamaica, the United States, Canada and Spain, in many cases by entrepreneurs with Caribbean heritage, Delta said. They are backed by MasterCard and will be accepted locally and internationally.

“We intend to raise the quality of public health by providing solutions that dramatically reduce the incidence of chronic NCDs across the region, directly increasing the life expectancy of Caribbean people and reducing the enormous costs to regional governments in managing these diseases,” Carter said.

He explained that as an investment private equity group, Delta enters relationships with companies and entities from around the globe that offer high-impact solutions to challenges facing the Caribbean region and work with these organisations to set up local operations through various structures.

Carter said those solutions must be innovative and aligned with Delta’s purpose of raising the lives and livelihood of Caribbean people. While the Delta Group operates across various lines of business, its primary focus is the fintech payments and digital health & wellness spaces.

He said: “Limited access to secure, innovative, cost-effective, and convenient payment products along with a high incidence of non-communicable diseases (NCDs) are among the most critical challenges currently affecting Caribbean peoples. We aim to democratise financial services by increasing access and creating more opportunities for everyone, using cutting-edge technologies. Our products and services are cashless and paperless.” (BT/PR)