Novamed’s Walcott builds business case for investing in health care
JAMAICA’S Dr David Walcott, founder and managing partner of Novamed Inc, for the fourth time addressed the annual World Economic Forum (WEF), a gathering of the world’s foremost business, political and cultural leaders.
At the global conference held in the Swiss Alpine town of Davos (Switzerland) from January 16 to 20, Dr Walcott built his case on the topic of multigenerational workforces and the business case for senior health, age diversity and inclusion.
The Oxford Universitytrained doctor disclosed that Novamed is expanding and innovating in health care, and ensuring not to leave seniors behind.
“We are investing in health care across the age spectrum and are ensuring that all the health-care solutions we provide are senior-friendly; we are also providing job opportunities for older persons and have proven out a model that works,” Dr Walcott disclosed.
Dr Walcott used the platform to speak on emerging market challenges faced by the senior population in health care, social welfare, and economic opportunity (or the lack thereof).
“We need greater public-private partnerships, intergenerational partnerships, and industry-academia collaboration to tackle the complex health care challenges of today’s world,” he said. “We have worked with progressive organisations like The University of the West Indies, the University Hospital of the West Indies, and the Development Bank of Jamaica who have all aligned themselves with innovation in health care and are working to build a healthier region.”
The participants in the forum discussed the state of the world and priorities for 2023 under the theme, ‘Cooperation in a Fragmented World’. In addition to the annual meeting, WEF attendants privately engaged in constructive, forward-looking dialogues to help find solutions to issues affecting the globe.
WEF, an international organisation for public-private cooperation, has been hosting its annual meeting in Davos every January for nearly 50 years. Nearly 600 CEOS and more than 50 heads of state or government attended this year’s staging of the elite event.
This year Dr Walcott participated in a high-level executive event hosted by Jo Ann Jenkins and Debra Whitman, CEO and Chief Public Policy Officer, respectively, of AARP — the largest global organisation dedicated to empowering seniors aged 50 and over. He said global organisations such as AARP are keen to engage with credible entities like Novamed “who can speak their language to build trust and have high levels of specific (health-care) expertise”.
Walcott noted that Novamed has distinct knowledge of investing in health care and real estate in emerging markets.
“This gives us an edge in navigating persistent challenges of doing business in emerging markets and creating value despite the obstacles,” the Novamed founder said.
Founded in 2018, Novamed is bringing innovative solutions to emerging markets in the Caribbean and Latin America through investing in health care and urban real estate.
Novamed recently completed a Us$40-million deal to acquire the Knutsford Court Hotel in New Kingston. It is converting the four-acre property, called Summit, into a smart campus. Summit will facilitate progressive businesses which operate in finance, fitness, food, health, recreation, legal, and ed-tech, among other industries.
WEF has recognised Dr Walcott and his work as a founding partner of the Visionaries’ Summit and the co-chair of the COVID Steering Committee of the World Economic Forum’s Global Shapers Community.