Connect with us

Mergers and acquisitions

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

Published

on

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

Continue Reading
Click to comment
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments

Businessuite Markets

A.S. BRYDEN Acquires Control Of Stansfeld Scott In Barbados

Published

on

A.S. Bryden & Sons Holdings Limited (“A.S. Bryden”) today announced that it has acquired a 55% controlling stake in Stansfeld Scott (Barbados) Limited (“SSB”).

SSB is a leading distributor and retailer of wines, spirits and consumer health products in Barbados. SSB’s products include El Dorado and Plantation rums, Glenfiddich whisky, Stolichnaya vodka, Banrock Station and Lamothe Parrot wines, Twining’s teas, Haliborange vitamins and Endura Malt. In addition to its distribution business, SSB operates six Wine World branded retail stores across Barbados.

P.B. Scott, Chairman of A.S. Bryden

The transaction will allow A.S. Bryden to expand its premium beverage business outside of Trinidad for the first time. Brian Cabral, the outgoing Chairman of SSB, will retain an ownership interest in the Company following the transaction and will remain a director. Stansfeld Scott International, a master distributor of wines and spirits across the Caribbean and Central America which is also owned by Mr. Cabral and his partners,

Jayshree Kessaram and Indra Cabral will not be impacted by this transaction.

In speaking about this development, P.B. Scott, Chairman of A.S. Bryden said, “Brian Cabral, his family and his team have spent decades carefully building Stansfeld Scott into the highest quality wines and spirits distributor and retailer in Barbados. We look forward to joining forces and using A.S. Bryden’s resources to serve Stansfeld Scott’s employees, customers and its principals.”

Continue Reading

Businessuite Markets

Mailpac Group Doubles Size With Acquisition Of myCart Express

Published

on

Khary Robinson and Garth Pearce of Norbrook Equity Partners Limited, Mark Gonzales and Samantha Ray of Mailpac, and Kamar Palmer and Aldane Smith of MyCart.

Mailpac Group Limited (“Mailpac Group”), Jamaica’s leader in e-commerce logistics and solutions, announced today that it agreed to acquire MyCart Express (“MyCart”), the fastest growing and second-largest courier company in Jamaica. This strategic transaction not only positions the combined entity as the largest courier platform in the Caribbean delivering over 1.5 million packages annually, but also merges the complementary management, service offerings, and geographic footprint of both entities to deliver superior growth to stakeholders.

After the closing of the transaction, the Board of Directors is expected to convene an extraordinary general meeting of the shareholders to propose that Mailpac Group be rebranded as MyPac Group (“MyPac”) which will operate several independent ecommerce solution-based brands, including Mailpac (premium-service courier), MyCart (value-focused courier), Pack Yuh Barrel (digital barrel packing and shipments), and Mailpac Local (local online shopping). While the management of each brand will remain intact, the Group will be overseen by a management committee made up of Khary Robinson and Garth Pearce of Norbrook Equity Partners Limited (“Norbrook”), Mark Gonzales and Samantha Ray of Mailpac, and Kamar Palmer and Aldane Smith of MyCart.

In addition to doubling the size and capacity of Mailpac Group, the transaction will see the owner operators of MyCart becoming shareholders of the publicly listed company, significantly adding to the innovation and execution capacity of the Group.

“After my first meeting with Aldane and Kamar, I knew they would be excellent partners in this journey of building the region’s leader in ecommerce solutions. Their innate ability to read the market, innovate solutions, and execute, is a perfect match to our proven capacity to deliver operational excellence in growing companies.”

The result of this combination of minds and resources will be revolutionary for consumers and shareholders,” said Khary Robinson, Executive Chairman of Mailpac Group.

The transaction also provides MyCart, its ownership, and its management team with a more seamless pathway to establishing and operating the largest and most trusted courier platform in the Caribbean.

“Our model at MyCart is unique, from customer acquisition to speed of delivery and everything in between. This led to five years of explosive growth, which was great, but also requires established support and resources to avoid certain pitfalls. We believe that Norbrook will give us the right balance of growth support and risk management. With MyPac, we can now continue growing aggressively through continued innovations for consumers but benefitting from the governance and resources of being a publicly listed platform run by proven business leaders,” said Aldane Smith.

In addition to meaningful synergies in various operational areas, Mailpac and MyCart will also get to strategically focus on their core market segments with appropriate services and pricing. “For years we struggled to be everything to everyone, from premium customers wanting a personalized experience all the way to their doorstep, to value-driven customers that just want to collect their packages as fast as possible at the lowest cost. With both brands under one umbrella, Mailpac can now focus on our core differentiators and MyCart can do the same,” said Mark Gonzales, CEO of Mailpac Group.

With conservative synergy estimates, Mailpac Group expects the transaction to deliver significant enhancements in revenue and profitability. Being the market’s second largest player with eight locations and tens of thousands of customers, MyCart brings substantial commercial and economic value to the Group. More importantly, with a robust technology backbone that was created in-house and an expansive warehouse presence in Miami, MyCart is poised to propel the Group in directions and into markets untapped by Mailpac.

“The transaction marks a pivotal moment in the logistics sector, with MyPac poised to lead the way in delivering exceptional courier services across Jamaica and the Caribbean. The combined expertise, resources, and innovative approaches of Mailpac and MyCart create a formidable force that will shape the future of logistics in the region,” said Robinson.

Continue Reading

Businessuite Markets

Tropical Battery Acquires California-Based Rose Batteries

Published

on

Tropical Battery Company Limited (JSE:TROPICAL), a leader in innovative energy solutions, is pleased to announce the strategic acquisition of Rose Electronics Distributing Company (Rose Batteries), based in San Jose, California, in the heart of Silicon Valley.

Founded in 1963, Rose Batteries is a manufacturer of specialized batteries for high value industries requiring critical power, including healthcare and aerospace. The company has built a solid reputation for the customized design and assembly of highly reliable batteries providing essential power and charging solutions to a broad range of B2B customers.

The company’s strength lies in its ability to cater to original equipment manufacturers (OEMs), offering customized solutions that supply continuous power in challenging environments. Rose’s approach in providing tailor-made contract manufacturing solutions has redefined industry standards and garnered a loyal customer base supporting stable, recurring revenue streams.

The acquisition of Rose Batteries represents a significant milestone in Tropical Battery’s strategy of diversification into new complementary product lines, market segments and geographies, and reaffirms the company’s commitment to technological innovation and growth in the global energy market. The acquisition was completed through Tropical’s US subsidiary Tropical Battery USA LLC. The purchase price is subject to strict non-disclosure restrictions, however the price significantly exceeds 50% of the market capitalisation of Tropical.

The integration of Rose Batteries into the Tropical Battery group of companies represents much more than simply an expansion into the world’s largest economy; it’s a significant step forward in boosting technological capabilities, innovation potential, and key financial indicators. The acquisition is projected to materially enhance Tropical Battery’s free cash flow, improve its cash conversion cycle, and increase the return on capital, thereby enhancing shareholder value and financial strength.

Rose CEO Itamar Frankenthal, an influential shareholder who has led the company since 2016, will join Tropical Battery as a shareholder and board member, continuing his focus on growth opportunities in the United States. His extensive experience, shaped by his Harvard MBA journey, along with his transformative leadership at Rose, underscores the expertise and visionary approach he will bring to the Tropical Battery group of companies. Rose COO Chris Wunderlich will become the new CEO of Rose Batteries, bringing a rich blend of experience in management, engineering, operations, and technology.

Following the acquisition of Dominican Republic-based KAYA Energy Group in 2023, and now, the acquisition of Rose, Tropical Battery will focus on integrating and harmonizing these three dynamic organizations to leverage synergies, optimize costs, and explore new growth opportunities across various markets.

“This acquisition reaffirms our commitment to transforming Tropical Battery into a multinational organization at the vanguard of innovative growth in emerging segments driving the transition to more sustainable energy solutions,” commented Tropical Battery Managing Director Alexander Melville.

“The integration of Rose Batteries will position the Tropical Battery group of companies to offer even greater value to our customers and stakeholders than ever before. We are reinvigorated by this next chapter in our growth and passionate about enabling a more sustainable, technologically driven future in the energy sector, while strengthening our financial performance with the support of pioneers in the Caribbean financial services ecosystem like Sygnus Capital, which served as lead arranger in this transaction.”

“Sygnus Capital’s partnership with Tropical Battery for this transformative acquisition reinforces our commitment to delivering innovative solutions that drive the growth of medium-sized businesses throughout the Caribbean,” noted Gregory Samuels, Senior Vice President & Head of Investment Banking at Sygnus Capital Limited. “We believe in empowering local companies to acquire overseas assets, thereby boosting our country’s foreign exchange inflows. This move aligns with our focus on impactful and sustainable investments, while also deepening our longstanding relationship with a valued client, namely Tropical Battery’s holding company, Diverze Assets. Together, we pave the way for growth, innovation, and financial resilience in the energy sector,” Samuels added.

About Tropical Battery Company

Established in 1950, Tropical Battery has become a household name in premium energy solutions in the Caribbean. Listed on the Jamaica Stock Exchange in 2020, the company has diversified beyond its core car battery business into automotive care products, renewable energy and electric mobility as part of its transformation into a diversified energy group enabling sustainability with innovation, technology and exceptional service delivery.

About Rose Batteries

With over 60 years in business, Rose Batteries has emerged as a leading contract manufacturer of specialized batteries for high growth industries driving the adoption of cutting-edge technologies. The company’s dedication to innovation and sustainable practices has positioned it as a vital partner across several sectors, including healthcare, robotics, aerospace and telecommunications.

Continue Reading

Businessuite Markets

Sagicor Group Jamaica Expands Operations in Latin America through Joint Venture Acquisition of Sagicor Panama

Published

on

Sagicor Group Jamaica Limited (SGJ) is thrilled to announce the Group’s further expansion into the Latin American market, effective January 1, 2024. This strategic move is made possible through a joint venture with our Costa Rican partners (Capital & Advice Inc), for the acquisition of Sagicor Panama from Sagicor Life Inc. in Barbados. Having received no objections from both Jamaican and Panamian regulators, our joint venture will embark on this new journey, expecting to replicate the success of our existing Sagicor Costa Rica joint venture.

“The acquisition of Sagicor Panama is a key step in our strategic objective of regional expansion”

Christopher Zacca, President and CEO of SGJ, expressed that this is a tremendous achievement for the company, stating, “The acquisition of Sagicor Panama is a key step in our strategic objective of regional expansion. We are confident that our expertise in and commitment to providing insurance solutions will add value to clients across Latin America as we move forward into new markets over the next few years.”

Sagicor Panama currently offers a range of products including Group and Individual Life insurance, Group and Individual Health insurance, and Personal Accident insurance. With this venture, Sagicor Group Jamaica aims to further diversify its product offerings in the Latin American market.

This expansion marks a major achievement for Sagicor Group Jamaica as it increases its presence in the Latin American market.

Zacca further stated that the Sagicor team “is excited about the opportunity to serve new markets and position SGJ for continued growth.” Outside of its Jamaican-based companies, Sagicor Group Jamaica also comprises of Sagicor Life of the Cayman Islands, Sagicor Investments Cayman and Sagicor Costa Rica as part of its group structure.

Continue Reading

Mergers and acquisitions

iCREATE In Agreement For Sale Of Interest In Visual Vibe.Com Limited

Published

on

iCreate Limited (“iCreate”) is pleased to announce that it has entered into an Agreement for Sale of a thirty percent (30%) interest in Visual Vibe.Com Limited (“Visual Vibe”) to a strategic investment group led by Mr. Anthony Dunn.

By virtue of this strategic investment, all obligations due and owing to the original owners of Visual Vibe have been addressed. Upon all conditions of this transaction being satisfied, Mr. Dunn will be appointed to the Board of Directors of Visual Vibe and will play a leading role in spearheading strategic plans that will ultimately unlock value for the shareholders of Visual Vibe and iCreate.

Mr. Anthony Dunn.

In commenting on the transaction, Mr. Dunn stated: –
“We welcome the opportunity to partner with iCreate on this acquisition. Visual Vibe is the brainchild of former owner, Mr. Ali McNab and we saw significant value in positioning Visual Vibe for further growth and value creation. Mr. McNab and the team have done a great job in growing the company and we believe the timing is good to further scale and unlock value from this great company for the benefit of all stakeholders.”

Mr. Tyrone Wilson, Executive Chairman of iCreate, has commended that: –
“We have been diligently working on this partnership, and I am delighted for this announcement. The planned infusion of funds from this strategic group is timely as it now paves the way for the accelerated growth of Visual Vibe and will allow the company to expand its client base and digital offerings with a greater footprint. As we move forward, we are exploring several strategic initiatives that we believe in the medium term will be in the best interest of our shareholders.”

As part of the arrangement, Mr. Dunn has been appointed a Director of the Board of Directors of iCreate and a member of its Audit Committee. He has also committed to supporting iCreate to ensure the company can return to its core operations of unlocking value through the digital and creative industries. This strategic partnership marks a pivotal moment in the trajectory of both iCreate and Visual Vibe, setting the stage for innovation, expansion, and increased shareholder value.

Continue Reading

Trending

0
Would love your thoughts, please comment.x
()
x