Medical tourism agreement terms still under negotiation

royalgazette.com · Feb 18, 2026 · Collected from GDELT

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Created: Feb 18, 2026 08:11 AM Pictured David Burt, the Premier and Lou Maroun, the chairman and founder of Medical Concepts Consulting Management, sign a memorandum of understanding in August for a “world-class” healthcare facility (File photograph by Akil Simmons)Plans to build a world-class facility and establish a medical tourism industry in Bermuda are ongoing, the Government and its prospective partner have confirmed.An arrangement between the Bermuda Government and island company Medical Concepts Consulting Management was formalised by the signing of a memorandum of understanding six months ago.David Burt made the announcement then for a “world-class” medical facility at a press conference at the Cabinet Office, where the Premier was flanked by senior leadership of the consultancy firm including Lou Maroun, the chairman and founder of MCCM, Michael Warren, the company’s executive chairman, and Louis Desmarais, its chief executive.R. Scott Pearman, the chief executive of the Bermuda Hospitals Board, was also present, as was Wayne Furbert, the Junior Minister of Finance.At the press conference in August, the Premier said the project was expected to break ground within six to 12 months.Following questions from The Royal Gazette about progress, a government spokeswoman said: “We are working with MCCM on the terms of a master development agreement.”A spokeswoman for MCCM said she had spoken with senior leaders at the company.She told the Gazette: “They responded that the company is currently negotiating a master development agreement with the Bermuda Government and will make an announcement in due course when it is signed.”The BHB declined to comment. It said that it was a government project, not a BHB contract.According to the plans shared in August, the development of the facility, to be sited at Morgan’s Point, would create about 300 jobs a year during the 2½-year construction period and about 275 full-time positions once operational in medicine, science, diagnostics, hospitality, technical trades and support services.Mr Maroun said then that the facility, to be known as the Bermuda International Healthcare Centre, would be a “comprehensive ecosystem” bringing together clinical care, wellness, research and education services as well as partnerships with internationally recognised medical institutions.Mr Burt added that the project would be completed without government funding or loans.Mr Maroun said at the press conference: “The first phase begins with three cornerstone developments: an intermediary-stay behavioural health centre, which addresses the ever-urgent and growing need for specialised, compassionate and high-quality mental health services; a medical hotel designed to provide comfort and convenience for patients and families; and an ambulatory surgery centre equipped with leading-edge technology to deliver same-day surgical care efficiently, safely and at the highest international standards today.”The first phase of the project was said to represent an investment of up to $400 million with the possibility of an additional $150 million investment if an associated seniors care facility takes shape.Mr Warren said earlier that the project could take approximately three to four years to complete but that there was no commitment on the timeline.