SMMC and FINSO agree on adjusted terms, sign Letter of Intent

~ Inflation and supply chain disruptions result in adjusted terms for SMGH construction ~

CAY HILL – St. Maarten Medical Center (SMMC) and general contractor, FINSO, recently signed a Letter of Intent (LOI) regarding the adjusted terms for the construction of St. Maarten General Hospital (SMGH) in the presence of Minister of VSA Omar Ottley, marking the next step in the continuation of the project.

“Although contract revisions are never a welcome process during an ongoing construction project, the existing market conditions of persistent high inflation and supply chain disruptions due to the pandemic and the war in Ukraine have made it impossible to complete the SMGH building as per the terms agreed to in 2016, when the original contract was signed”, stated Minister of VSA Omar Ottley. “This LOI clearly stipulates how to deal with these issues which is important to finish the SMGH”.

Following the LOI, the contract and the financing will be adjusted based on the agreements of the LOI. Furthermore, the design of the new hospital will be further optimized. In the meantime, the construction activities will continue with the focus on further increasing the workforce. The coming months will be used by the contractor to prepare the large-scale construction which will become more visible in terms of increased site activities as of the start of next year.

SMMC has continued expanding its medical services in order to cater to the rising care demand on St. Maarten and surrounding islands while the main SMGH building is expected to open its doors in 2025.

“We have continued with our aim to provide high quality care, close to home through the expansion of medical services at the current facility, while we await the construction to be completed. The two new state of the art Class 1 Operating Theatres, the additional Dialysis capacity, the opening of a Pain Management Clinic, the expansion of Oncology services and the realization of a brand-new MRI clinic are all testimony of our continued hard work to serve the community of St. Maarten and surrounding islands, right now”, concluded Dr. Holiday.

SMMC will keep the public and all stakeholders informed during this process as the project goes forward in the coming months.