The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Doctors Hospital’s president said the healthcare provider was looking to position itself as a centre for stem cell generation, telling Tribune Business that this treatment was “not really something we should be fighting against”.

Barry Rassin, who last week gave a presentation to the Rotary Club of West Nassau on stem cell research and therapy, told Tribune Business: “We want to set up a stem cell lab. We already have the surgeons who are ready to come into the country to do them for their patients. We definitely want to be a centre for stem cell regeneration.”

Mr Rassin said it was still too early to tell how much stem cell therapy would represent in terms of Doctors Hospital’s overall business, adding: “I want to make sure I know what the regulations are before I go too far.

“We have absolutely seen interest in that sort of treatment. I like the idea that they are going to have regulations. It’s an important industry to have approvals, so that you make sure you have the right people doing it. Stem cell is the wave of the future. It’s not really something we should be fighting against. If we can get into it earlier rather than later, it’s better for the country.”

The Stem Cell Research and Therapy Bill, which was passed in Parliament last month, provides a regulatory regime covering all aspects of stem cell research, namely clinical research, non-clinical research and therapeutic uses.

The legislation will prohibit procedures that are unethical or without scientific foundation. Facilities or laboratories used for stem cell research or therapy must obtain a license under the Hospital and Health Care Facility Act.

Stem cell research and therapy is expected to boost this nation’s medical tourism industry and inject tens of millions of dollars into the economy annually.

As for the Bahamas Medical Centre, which opened last October following a $1.8 million investment by Doctors Hospital, Mr Rassin said: “We’re getting there. I still can’t get everything approved like I would like, so there is still a delay in the whole system.

“Until they can stop these delays it’s very hard to conduct business. I’m waiting for something to come out of Cabinet; the work permit problem is still there.”