Mount St. John Medical Centre [view photo]

Minister of Health the Honourable John Maginley concluded a second day of discussions here on Tuesday with representatives of the American Hospital Management Company (AHMC) and the Stanford Financial Group on financing for the Mount St. John Medical Center.

At the center of the discussions were options for reducing the debt owed to the Bank of Antigua, which were incurred in the early stages of the construction of the hospital, and further financial options to make the hospital operational.

"I am pleased with the progress of the construction phase of the hospital and the proposed financial plans that we are exploring to make the hospital operational. Now we have to move forward assiduously to have the legal framework and proper corporate documents in place for the hospital to become fully operational," Minister Maginley said.

The Minister met with Vice President of Investment Banking of the Stanford Financial Group (SFG), Mr. Glenn Ketover, and President and Managing Director of American Hospital Management Company, Mr. Randall Arlett. Both institutions have been engaged in discussions with the Ministry of Health on possible options for financing the Medical Center.

"During my meetings with these two gentlemen, we were able to explore ways to reduce the debt owed to Bank of Antigua and examine additional financial options that would make the hospital fully operational as soon as possible," said the Minister.

"With construction slated for completion by July, our discussions took on a sense of urgency and all sides want to ensure that, by the time Mount St John opens, everything will be place for it to function efficiently and properly to serve the people of this country," he added.

Minister Maginley was accompanied by Ambassador Conrod Hunte, Deputy Permanent Representative to the United Nations.