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Cayman Islands explore medical tourism

Published:Thursday | March 24, 2011 | 3:18 PM

Authorities in the Cayman Islands are targeting the US as a potential market for medical tourism.

The British territory has agreed to a deal with renowned Indian heart surgeon, Devi Shetti, to build a 2,000- bed health care city, to target American patients and insurers searching for discounted medical care.

It will cost about $2 billion and will include a hospital, medical university and assisted living facility.

As part of the agreement, the Caymans passed legislation last week to cap medical negligence claims at US$600,000.

The country is under pressure from the UK to diversify its economy and move away from its tax haven image.