Angela Healthcare Expands Globally as a Cayman SEZ Company to Provide 24/7 Care
Serial entrepreneur Aaron de Coteau founded Angela Healthcare as part of his quest to disrupt the healthcare industry. His goal? To make healthcare treatment ridiculously convenient for patients and, once again, affordable. His solution is an inexpensive membership-based plan that brings physicians, medicines, and laboratories to the doorstep of the patient, whether it be in person or virtually.
Aaron initially launched the concept as a registered local company in the Cayman Islands before leveraging Cayman Enterprise City’s (CEC) special economic zones platform to launch his global operations. The vibrant business climate and easily accessible networking opportunities available via CEC enabled the group to start expanding operations to countries around the globe – from the US, UK, Caribbean, and Africa. While the group’s global operations and infrastructure are being built out, Cayman Islands residents can seek care via the group’s local Angela Healthcare entity.
How It Began
Early in his venture in the medical field, Aaron noticed a common theme plaguing healthcare systems around the world: they unintentionally give sick patients less than desirable outcomes at high cost, with great inconvenience and did little to promote preventative care. The blocks to care included high costs of care, cumbersome insurance claims, and difficulties accessing doctors and medicines.
He illustrates the problem with several examples he's often encountered. In the most basic scenario, he found that ill individuals find it difficult to take time off work to make appointments on top of hectic traffic to get there. And that's all before getting prescriptions filled and separate visits for bloodwork.
Another familiar scenario Aaron encountered involves complex diseases that require hospitalisation. In these cases, he found that many people have insurance and robust savings, but those all dry up when the hospital bills arrive. Many times, patients' medical treatments max out their lifetime benefits, leaving them with zero coverage, depleted life savings, and no provider willing to offer coverage.
"The healthcare system is supposed to help people, but it is not structured effectively and falls short," said Aaron. "When you look at the fundamentals of what people really needed, it all comes down to the simplicity of seeing a physician at regular intervals without fancy hospital facilities and diagnostic centers.”
The Solution
The core of Angela Healthcare’s service is that the doctor's office, lab, and pharmacy come to the patient. This supports the company’s ethos to reduce illness and costs of healthcare by identifying and treating medical issues before they turn for the worse.
By offering an affordable membership-based plan for virtual and in-person visits, patients complete preventative checkups and screenings on a regular basis without added out-of-pocket expenses. The company’s secure, cloud-based platform examines and analyses patient information so the doctor can make quick diagnostic decisions. Appointments are backed by state-of-the-art technology that eliminates the need for many in-person visits from a physician and allows local nursing teams to conduct lab work and diagnostic tests and treatments on location as well. Then, prescriptions and medical items are delivered directly to the patients' locations, including offices, homes, or even hotel rooms.
What this means for the patient is more time with a doctor and no traffic, work conflicts, locating doctors after hours, or managing children. For employers, it means healthier employees with less time out of the office for appointments and sick leave. Plus, employers can offer services to employees as part of their wellness benefits.
The Cayman Connection
Being registered within CEC has brought a host of benefits for Angela Healthcare’s global division (which is registered as Med on the Spot Global Technologies). Aaron’s experience has been that the top three benefits of setting up with CEC are significant time and cost savings; the opening of a path to residency; and the opportunity to leverage an easy-to-use special economic zones platform to expand globally.
The company enjoys Cayman's efficient taxation structure that is based on consumption rather than a flat percentage tax. Plus, Cayman has tax treaties with countries around the world to prevent double taxation and operates under some of the most robust financial regulations and controls to help aid corporate governance.
CEC took care of all of the registration, permit and office location details leaving Aaron to focus on his core business.
Being a lifelong aficionado of the Cayman Islands, Aaron jumped at the opportunity to return to Cayman in 2021, leveraging the CEC special economic zones to establish a genuine physical presence locally. Investing in his company also provides a path for him to gain residency rights in Cayman with the eventual opportunity to attain citizenship.
Being a small community of less than 85,000 people made up of over 120 different nationalities has helped supercharge the company’s anticipated growth. Aaron says that “in Cayman’s SEZ, you find yourself in a real global community with connections across the world that can unlock endless business opportunities. It's very easy to network with influential people that you then form real, long-term relationships with in a more relaxed environment than what you find in big cities. Its relational, not transactional.”
Are you an innovative business on the hunt for an offshore business location? CEC is here to help. We make growing an international business from the Cayman Islands easy, affordable, and functional. Learn by visiting our business set-up page.