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Health Ministry To Meet With Potential Investors

The Government has “limited capital resources to direct to the development of additional residential long term care capacity,” but may be in a position to “provide incentives to encourage investment by the private sector,” so the Ministry has invited potential investors to a discussion, where the focus will be “what can be done by the Government to promote investment.”

A Ministry spokesperson said, “The future healthcare needs of our community are being determined by changes in disease patterns and the demographic shift in our ageing population. By 2030 people over the age of 65 will increase from 11% to 22% of the population and the median age is projected to increase from 37 to 43 years.

“The Ministry of Health and Seniors is implementing its multi-year strategy to reform the health system: the Bermuda Health Strategy and Action Plan. The goal is to deliver affordable, sustainable, quality healthcare for all of Bermuda’s residents.

“The Long Term Care Action Plan addresses Goal 7 of the Bermuda Health Strategy, and looks at quality and quantity of care needs, the development of healthcare staff for long term care and educating the public about long-term care issues.

“This is a critical time for Bermuda; the Ministry is working toward meeting the growing needs of Bermuda’s seniors and people with physical, cognitive or mental disabilities, such as dementia and Alzheimer’s disease.

“The provision of residential long term care services is expensive, and the development of additional capacity and bed space is even more expensive.

“The Ministry recognizes this but is also aware that the Government has limited capital resources to direct to the development of additional residential long term care capacity.

“However, as has been done with other sectors of Bermuda’s economy, the Government may be in a position to provide incentives to encourage investment by the private sector in new residential long term care. While Government guarantees or financial backing are not an option, other incentives are being considered.

“With this in mind, the Ministry has invited potential investors to a round table discussion on the barriers to investment that they have encountered. The focus of the conversation will be on what can be done by the Government to promote investment in current and new facilities to expand the inventory of residences, activities and day services available to Bermuda’s seniors and disabled persons.

“Interested investors who have not already received an invitation should contact Kevin Monkman at 441.278.4908 or [email protected] for more information on this first round of discussion.”

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