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Medical Associates Hospital & Knutsford Court Hotel To Be Transformed Into A State-Of-The-Art Health District – Part 3 The Project and Properties

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According to the press releases plans are in progress to transform the Knutsford Court Hotel property into a model business and lifestyle village that will build healthy living, productivity, and environmental sustainability into its operations.

Dr Walcott stated that Novamed believes that investing in healthcare extends beyond buying hospitals and clinics. It extends into creating productive spaces in everyday life that facilitate healthy and sustainable undertones to our professional and personal activities.

Medical Associates Hospital and Medical Center (MAH)

MAH was established in 1959 by Dr. J.T Burrowes whose vision was to create the finest private healthcare facility in Jamaica, offering a wide range of medical services of the highest quality to its patients, with care, compassion, and kindness.

Throughout the years Medical Associates Hospital has gained a reputation for excellent nursing care, experienced and highly-trained consultants, physicians and surgeons, and forging new pathways in medicine.

MAH is a First-Class healthcare facility that is proud to have forged long-standing relationships and alliances with over 60 companies and corporations in Jamaica, including embassies and consulates, international shipping lines, security companies, manufacturing plants, and telecommunications companies, to name a few.

Our excellent relationships with our highly trained medical team and our family of patients, coupled with our unwavering commitment to quality healthcare services and advancements in medical technology has significantly contributed in helping the hospital build a positive, progressive and unquestionable reputation in the healthcare sector.

MAH has three entrances; one on Ruthven Road, one on Chelsea Avenue and its main entrance, on Half Way Tree Road, and is open 24 hours a day, 7 days a week.

The Knutsford Court Hotel

Businessman Kevin Hendrickson brought his talent and experience to The Knutsford Court Hotel, his second hotel acquisition in Kingston (The Courtleigh Hotel & Suites being the first). Located in the Half Way Tree area of the city, The Knutsford Court Hotel is unique in its ability to suit every type of traveller and budget, with accommodation and amenities for corporate visitors, groups, couples and families.

Modernization is at the heart of the hotel, with state-of-the-art point of sales systems, fire prevention and sprinkler systems throughout, an intricate surveillance camera system and electronic key lock for bedrooms as well as complimentary high-speed Wi-Fi access.

Hotel Four Seasons?

It was recently reported that First Rock bought one of several hotels which are near the Medical Associates Hospital. It is understood that this hotel will be added to the MAH portfolio, causing a possible conflict of interest on Dr Banbury’s behalf, hence his resignation.

Hotel Four Seasons, a long-standing part of Kingston’s hospitality landscape, and sits just across the road from both Medical Associates Hospital & Knutsford Court Hotel was placed on the market for sale by its owners, who are seeking US$16 million, or about $2.5 billion in Jamaican currency, for the property located on Ruthven Road. There has been no further public announcement on this pending sale.

Medical Associates Hospital & Knutsford Court Hotel To Be Transformed Into A State-Of-The-Art Health District – Part 4 The Business Opportunity – Medical Tourism Expansion

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Businessuite News24 International

Unilever Initiates Talks To Potentially Sell Ice Cream Business

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Unilever has initiated talks with buyout firms to potentially sell its ice cream business, a move estimated to be worth up to $19.4 billion. This strategic decision aims to streamline Unilever’s operations and focus on its core business areas.

Unilever’s ice cream division, which includes renowned brands like Ben & Jerry’s, Magnum, and Wall’s, generated a turnover of €7.9 billion in 2023, representing about 13% of the company’s total sales. The separation will create a standalone ice cream business with significant global presence in both in-home and out-of-home segments.

The sale is driven by the distinct operational needs of the ice cream business, which differ from Unilever’s other segments. Ice cream has unique supply chain requirements, seasonal demand fluctuations, and higher capital intensity. By separating, Unilever can focus on its remaining core segments—Beauty & Wellbeing, Personal Care, Home Care, and Nutrition—aiming for mid-single-digit sales growth and improved margins post-separation​.

The potential buyers include private equity firms like Advent International, Blackstone, Cinven, and CVC Capital Partners, which have shown preliminary interest. The separation process will involve significant operational changes, including a major productivity program aimed at reducing costs by €800 million over the next three years, offsetting any dis-synergies from the separation. This plan also involves a restructuring that will impact approximately 7,500 predominantly office-based roles globally​​.

Overall, this move is expected to create a world-leading ice cream business with the flexibility to grow and innovate independently while enabling Unilever to become a more focused and higher-performing company.

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Businessuite News24

Who Is Christopher Williams, CEO of Proven Management Limited?

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Leadership and Vision

Christopher Williams is the co-founder and Chief Executive Officer (CEO) of Proven Management Limited, the investment management company behind Proven Investments Limited (PIL). With over 20 years of experience in merchant and investment banking, asset management, and stock brokerage in the Jamaican and Cayman Islands capital markets, Williams has established himself as a pivotal figure in the Caribbean financial landscape. His leadership style is characterized by strategic foresight, resilience in the face of challenges, and a knack for identifying lucrative opportunities in turbulent times.

Career Path and Milestones

Williams’ career is marked by significant milestones and strategic acquisitions. Under his leadership, Proven executed its first major acquisition in 2010 during the Government of Jamaica’s debt exchange, acquiring Guardian Asset Management. This acquisition was notable for its timing amidst widespread market panic, showcasing Williams’ ability to see opportunity in crisis​.

One of the most high-profile deals orchestrated by Williams was the acquisition of a 49.27% stake in Access Financial Services from Mayberry Investments in 2014. This move not only resolved a public dispute among Access’s major shareholders but also fortified Proven’s position in the micro-lending sector​​. Other significant acquisitions include the purchase of First Global Financial Services, which expanded Proven’s wealth management capabilities, and the acquisition of an 83% stake in the Bank of St. Lucia International, marking Proven’s first venture into the banking sector outside Jamaica​.

Management Style and Philosophy

Williams’ management style is deeply rooted in the belief that crises present unique opportunities. He advocates for maintaining calm and nimbleness during market upheavals, a philosophy that has guided Proven through various acquisitions and expansions. His strategic approach involves meticulous market analysis and a keen eye for undervalued assets that can be transformed into profitable ventures​​.

Williams also emphasizes the importance of a strong, cohesive team. He describes Proven as the Caribbean’s version of an NBA super team, highlighting the collective expertise and experience of his executive team and board members. This collaborative and high-performance culture is a cornerstone of Proven’s operational strategy and success​.

Future Outlook and Retirement Plans

Looking ahead, Williams continues to steer Proven towards new horizons. The company’s foray into real estate through its subsidiary, Real Properties Limited, exemplifies its strategy of diversification and growth. While specific details about his retirement plans remain undisclosed, Williams’ legacy at Proven is expected to endure, built on a foundation of strategic innovation and robust leadership​.

As Williams prepares for the future, his contributions to the financial sector and his role in shaping Proven into a regional powerhouse remain a testament to his visionary leadership and unwavering commitment to excellence.

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Businessuite Markets

Strategic Implications of A.S. Bryden & Sons Holdings Limited’s Acquisition of a Stake in Caribbean Producers Jamaica Limited

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A.S. Bryden & Sons Holdings Limited (ASBH), a prominent Trinidad and Tobago-based conglomerate, has recently acquired a 44.8% stake in Caribbean Producers (Jamaica) Limited (CPJ). This strategic move carries significant implications for both companies and the wider Caribbean market.

Expansion and Synergy

ASBH’s acquisition of CPJ represents a strategic expansion of its footprint in the Caribbean. By entering the Jamaican market, ASBH is set to leverage CPJ’s established distribution networks and customer base in Jamaica and St. Lucia, augmenting its regional presence beyond its existing operations in Trinidad, Barbados, and Guyana​​.

Nicholas A. Scott, Director of ASBH, emphasized that this investment aligns with the company’s regional expansion strategy. He noted that ASBH plans to increase its holdings in CPJ with the ultimate goal of gaining control, subject to regulatory disclosures​. This approach suggests a long-term commitment to integrating and scaling CPJ’s operations within ASBH’s broader business model.

Operational and Financial Benefits

For CPJ, this partnership promises enhanced operational capabilities and financial strength. ASBH’s extensive resources and expertise in food and beverage distribution will likely drive efficiencies and innovation within CPJ. The acquisition also provides CPJ with increased access to hard currency earnings, which is crucial for import-driven businesses in the Caribbean region​.

P.B. Scott, Chairman of ASBH, highlighted that this strategic stake would enable ASBH to serve new markets, particularly in the hospitality and restaurant sectors, leveraging CPJ’s strong presence in these industries. The collaboration is expected to generate significant synergies, boosting growth and competitiveness for both companies​​.

“Over the last 30 years, CPJ has become the pre-eminent distributor of food and beverage products to hotels and resorts in Jamaica and beyond because of the talent and dedication of our team and the support of our loyal suppliers and customers. AS Byrden shares our values and culture and has a track record of building and supporting high-performing management teams.” Mark Hart

Market Impact

The acquisition has broader implications for the Caribbean market. By consolidating its position as the largest shareholder of CPJ, ASBH is poised to influence market dynamics, fostering increased competition and potentially driving innovation within the sector. Additionally, ASBH’s listing on the Jamaica Stock Exchange (JSE) underscores its commitment to transparency and regional integration, providing greater opportunities for investors and stakeholders across the Caribbean​.

Leadership

Nicholas Hospedales, who previously led the food and grocery, premium beverage and operations units at ASBH, will be appointed CEO of CPJ. CEO of ASBH Richard Pandohie will be appointed chairman and co-founder of CPJ Tom Tyler will be appointed deputy chairman. He will also serve as a consultant to the company.

Directors Mark Hart and Candace Hart will also retain their roles.

ASBH directors Nicholas Scott, Michael Conyers and David Franco will be appointed as new directors, replacing Christopher Berry, Konrad Berry, Camille Shields, Frank O’Dowd and Mark Hall.

Hart said the two companies will grow significantly through their collaboration. He expected that working together, the two companies would be able to expand their geographic footprint throughout the region.

Seprod Ltd

In 2023, Seprod Ltd, a regional manufacturing and distribution company headquartered in Jamaica, acquired ASBH at $312.7 million, scooping up a 60 per cent share in the company. Seprod said the acquisition would result in a company with combined annual revenues of more than $3.37 billion. ASBH was valued at $267.9 million in 2022 when Seprod sought to acquire it. To fund the transaction, the company used a combination of a loan of $172.4 million and issued preference shares to the tune of TT$140.3 million.

Seprod has been in regional food manufacturing, distribution and agribusiness since the 1940s. Its manufacturing base includes oils and margarine, wheat and corn milling, integrated dairy, biscuits and snacks. It is also a part of the Musson Group of Companies, which is involved in manufacturing, insurance, information technology, logistics and real estate.

In summary, ASBH’s acquisition of a significant stake in CPJ is a strategic maneuver that promises to enhance the operational capabilities, market reach, and financial stability of both companies. This move not only reflects ASBH’s growth ambitions but also signals a transformative shift in the Caribbean’s food and beverage distribution landscape.

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Businessuite Markets

Kevin Gordon Led Simply Secure Limited Acquires 49.1% Stake in tTech Limited

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Edward “Teddy” Alexander

The Directors of tTech Limited announced that two (2) major shareholders, Edward “Teddy” Alexander and G. Christopher Reckord, have sold 52,012,834 tTech shares, representing 49.1% of tTech Limited’s issued shares. The acquiring entity, Simply Secure Limited, is owned by Kevin Gordon and Rob Mayo-Smith. Messrs. Gordon and Mayo-Smith are also the owners of Simply Secure LLC, a Managed Security Services Provider based in Ft. Lauderdale, Florida.

tTech Limited is a leading IT services provider offering a wide range of services to help businesses manage their IT infrastructure efficiently and securely. Our mission is to deliver exceptional IT services and solutions that empower businesses to thrive in an ever-evolving digital landscape.

Simply Secure LLC is a Managed Security Services Provider based in Ft. Lauderdale, Florida. The company specializes in providing comprehensive security solutions to protect businesses from cyber threats and ensure the safety and integrity of their IT environments.

In light of the fact that the acquisition is beyond the 20% threshold of the issued and outstanding ordinary shares of the company, tTech has duly notified the Jamaica Stock Exchange and the Financial Services Commission pursuant to the applicable JSE Junior Market Rules (Appendix 2) and the applicable Regulations promulgated under the Securities Act that relate to Takeovers and Mergers.

Simply Secure has indicated that upon the acquisition of 50% or more of tTech’s shares, it will extend an offer to all remaining tTech shareholders to purchase their shares. This intended offer to the remaining shareholders will be contingent on the completion of additional due diligence, finalization of the terms of the offer, review by the tTech board and approval by the regulators. Simply Secure and tTech have committed to adhering to the Securities TOM Regulations and the JSE Rules.

The Directors of tTech anticipate that the synergies between tTech and Simply Secure will enhance the services provided by tTech, particularly in the area of Cybersecurity.

There will be some changes at the director and management levels. However, Edward Alexander, who continues as the Board Chair, stated, “I am confident that Simply Secure’s involvement will bring new resources and expertise to tTech Limited. Their focus on Managed Security Services aligns perfectly with our strategic goals.”

 “Under this new arrangement, Simply Secure and tTech are committed to leveraging greater resources to meet the growing demand for Managed Security Services. The primary focus will remain the delivery of exceptional value to our customers and optimal growth opportunities for our employees.” Kevin Gordon, CEO of Simply Secure LLC

 

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Business Insights

RedPlate Group Limited: Corporate Profile

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About RedPlate Group

RedPlate Group Limited is a distinguished Caribbean-based investment holding company, specializing in equity investments across various sectors. Our diversified portfolio includes stakes in both established businesses and promising start-ups, with a focus on:

  • Business-to-Business (B2B)
  • Technology
  • Data-Driven Solutions
  • Integrated Fulfillment Logistics
  • Transportation Solutions
  • E-commerce
  • Mobile Payments

Our Companies

RedPlate Group encompasses a range of dynamic companies, each contributing to our overarching mission:

  • InterMetro Transit Jamaica
  • RedPlate Logistics and Fulfilment Group
  • RedPlate MarketPlace
  • RedPlate Technologies Jamaica Limited
  • RedPlate Financial Group

Innovative Business Model

RedPlate Group’s pioneering business model is poised to revolutionize the transportation and logistics sectors in Jamaica and the broader Caribbean. By leveraging cutting-edge technology, we address current inefficiencies, enhancing productivity and profitability across the value chain. Our holistic, horizontal integration of business units fosters seamless collaboration, creating a robust, technology-driven ecosystem.

Market Opportunity

Jamaica’s transportation and logistics landscape is currently fragmented and inefficient, posing significant challenges for businesses and commuters alike. RedPlate Group aims to resolve these issues by developing a cohesive and interconnected platform. This platform optimizes operations, maximizes resource utilization, and delivers an unparalleled experience for both corporate clients and end consumers.

Strategic Vision

RedPlate Group’s strategic vision is centered around building synergistic relationships and fostering a collaborative environment. Our approach not only fortifies the value chain but also enhances productivity and increases income for all stakeholders. By addressing the fundamental challenges within Jamaica’s transportation and logistics sector, we are paving the way for a more efficient and profitable future.

Conclusion

RedPlate Group Limited invites high net worth investors to join us in transforming the Caribbean’s transportation and logistics industry. Our innovative, technology-driven approach and commitment to excellence position us as a leader in the sector, offering substantial growth and investment opportunities. Together, we can achieve remarkable advancements and drive significant value for our stakeholders.

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