Skip to main content

09102026 BUSINESS

Page 1

business@tribunemedia.net

Thursday, sepTember 10, 2026

$ 6.95

$ 6.54

$ 6.95

Doctors Hospital eyes 33% emergency room fee slash

BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net

DOCTORS Hospital plans to slash the deposit requirement for patients to access its emergency room services by one-third after cutting losses on unpaid medical bills and other assets below its annual 3 percent of sales target ratio. Dennis Deveaux, the BISX-listed healthcare provider’s chief executive, told Tribune Business yesterday it planned to return gains from lower provisions and impairments to patients - as well as shareholders - by improving Bahamian access to medical services and their affordability as he acknowledged that the typical $3,000 emergency room fee was “a big number for many people”. Speaking just after the company released its audited financials for the year to

Rewarding patients after impairment losses drop further $3m

end-January 2026, he said Doctors Hospital had further cut impairment and provision losses from the “north of $13m” hit just two years ago through a 46 percent yearover-year drop from $6.644m in 2025 to $3.588m. “Obviously a couple of years ago we had somewhat of a more existential risk given that provisions were north of $13m, which was outside the benchmark we

Bahama Rock: ‘Permanent close’ if approvals rejected BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@tribunemedia.net BAHAMA Rock yesterday confirmed it will likely “close permanently” if the Government fails to approve access to a new aggregate source on the 515-acre former Bahamas Cement Company property that it acquired last year. The Grand Bahama-based aggregate miner and quarrying firm, in a statement responding to Tribune

Business questions, asserted that such a shutdown will be averted if the Davis administration gives it the go-ahead to access a new materials supply source to replace the one it asserts is now heavily depleted at its current location. Also affirming that 69 hourly workers are due to be furloughed, or temporarily laid-off for no longer than 60 days, with effect from Monday, September 21, the company reiterated that the

Bahamas Grid: 27 legacy cable faults require repair BY FAY SIMMONS TRIBUNE Business Reporter jsimmons@tribunemedia.net BAHAMAS Grid Company (BGC) says it has cut the backlog of legacy underground electric cable faults by almost 50 percent since it took over management of New Providence’s transmission and distribution network in April. Dareo McKenzie, its chief executive, in reply to Tribune Business questions said the gris operator has cut these faults from 50 to 27 as it now shifts its focus to an ageing distribution network following completion of its foundational transmission work. He added that Bahamas Grid had inherited

around 50 underground faults from Bahamas Power & Light (BPL) when it took over responsibility on April 20. “Working with our strategic partners, with some assistance from BPL, Bahamas Grid Company has steadily reduced the total number of known distribution faults to 27,” said Mr McKenzie. The remaining faults are now being targeted through the deployment of an international specialist cable repair team, which was mobilised on Monday and has begun work to isolate, repair and replace the highest-priority faults.

RESOLVE - See Page B7

MP: ‘Written guarantees’ critical for beach vendors BY ANNELIA NIXON TRIBUNE Business Reporter anixon@tribunemedia.net AN OPPOSITION MP yesterday demanded written guarantees that properly licensed Cabbage Beach vendors will be allowed to return following proposed erosion control works as the Ministry of Tourism affirmed planned fencing and pilings are temporary and will not restrict public access. Lincoln Deal, the Freetown MP, whose constituency includes Cabbage Beach, told Tribune that

LINCOLN DEAL vendors want more than verbal assurances as they face potential displacement from one of the island’s

MOVE - See Page B13

$ 6.89

Gov’t urged to ‘pay attention’ to Bahama Rock’s closing threat for local construction Developer warns building sector ‘increasingly uncompetitive’ Industry already hit by price hikes as concrete surges 17%

One-off Gov’t sale boosts profits as 10% margins are targeted Provider ‘thrilled’ by 7.8% jump in pre-hospital patient usage

$ 7.06

Halts some of his projects on ‘prohibitive’ shipping cost tripling DENNIS DEVEAUX

BY NEIL HARTNELL TRIBUNE Business Editor nhartnell@ tribunemedia.net

are targeting,” Mr Deveaux told this newspaper. “But in the year that just concluded, we were well under what we have been.” He added that the $3.588m impairment loss for the year to end-January 2026 would have been $368,000 lower if Doctors Hospital’s East Bay Street-based Harbourside facility, which has now been sold to the Government in a $29m deal that closed on

March 30, 2026, was stripped out. “We’re well within the benchmark of under 3 percent [of sales],” Mr Deveaux said of the 2026 financial year’s impairment loss. “We’d like to be under 2 percent. “What I can foreshadow, having got that bad debt under control, is we are planning on lowering the

loss of its production will likely “double” aggregate costs in The Bahamas for the Government, businesses and citizens. Bahama Rock, in a presentation made during the July 29 town hall meeting on its project, disclosed that The Bahamas requires more than 350,000 tons of aggregate per year while warning that the loss of its supply source would double the cost of such materials for the Bahamian construction industry and result in delivery costs per ton being “up to 150 percent higher” due to extra import-related expenses. The company yesterday said any supply loss, or shortage, coupled with price increases would impact road,

home, school, hotel and tourism, disaster relief and other infrastructure needs here in The Bahamas. It also pledged to employ science and technology “to mitigate any potential concerns” nearby Grand Bahama communities and residents have surrounding blasting and environmental impacts from excavation activities at the Bahamas Cement property. “The company remains committed to exploring opportunities that may allow affected employees to return to work sooner should circumstances permit,” Bahama Rock said of the temporary lay-offs and furloughs that will take place following the

A BAHAMIAN developer yesterday warned this nation will become “increasROBERT MYERS ingly uncompetitive in construction” versus its Caribbean rivals if Bahama Rock’s aggregate production halt leads to protracted supply shortages and worsens already-spiking materials costs. Robert Myers, principal behind the Windsor Lakes project in south-western New Providence, and head of Capstone Construction, told Tribune Business that a lengthy shutdown by the Grand Bahama-based miner will further exacerbate inflationary pressures for a local building sector that has just suffered a 17 percent hike in concrete prices and experienced “significant” materials cost rises since 2026 started. Urging the Government to “pay attention” to the threat posed by rising construction prices to real estate and hotel-related development, he revealed that increased shipping costs - caused from oil and fuel price rises sparked by the Middle East conflict - have forced him to halt work on some of his projects because the impact means the financial numbers “don’t make sense any more”. My Myers, telling this newspaper that it had become “cost prohibitive” to ship from China and other Asian states, acknowledged that shipping costs have recently eased although global oil prices again went past $100 per barrel yesterday.

MINING - See Page B12

DEVELOP - See Page B11

RESULTS - See Page B11


Turn static files into dynamic content formats.

Create a flipbook
09102026 BUSINESS by tribune242 - Issuu