Bangalore based, Super Speciality Hospital, Narayana Hrudayalaya, has signed a contract with Government of Cayman Island to construct a Health City at Grand Cayman.

Narayana Hrudayalaya said in a statement that under the Joint Venture with Cayman Government, a multi-superspeciality hospital with 2,000 beds would be constructed in four phases on 100 acre of land.

Phase one will have a 200-bed superspeciality hospital for Heart, Cancer, Ortho and Gastro Intestinal Surgeries. Cayman Government has identified the credentials of the Narayana Hrudayalaya Doctors to work as Senior Specialists in this hospital. Part of the Health City will have a huge facility of supported living for senior Americans.

The Government of Cayman had identified Narayana Hrudayalaya to set up a state-of-the-art Medical University to coach Doctors, Nurses and Paramedical students from American, Canadian, South American and Caribbean region.

The main idea of building a hospital in this area was the effect that health reforms in the US would have on patients.

Dr. Devi Shetty, Chief of Narayana Hrudayalaya, said, ''We believe that these patients will find it very inconvenient to travel to India because of the distance''. The agreement was signed by the Cayman Island Premier McKeeva Bush and Health Minister J Mark Scotland and Dr. Devi Shetty on April seven.

Today, Group Chairman Dr. A M Arun said that the Health care market is supposed to reach $150 billion by 2014 from the current $56 billion in the world and to cash in on the prospect, Vasan Health Care Group is planning for development in India and overseas.