GOB Will Acquire 100% of Universal

And though it's not on the weekly Cabinet brief, 7NEWS has learnt that Cabinet also decided yesterday to take over all 100% of Universal Health Services. Originally, the proposal was that government would take over 66% but it seems what that really meant was no less than 66% and as much as 100%.

And now, they've gone with the 100%. After government pays off or compensates the Belize Bank or Universal's $32 million debt, it plans to take over that 100% and then offer a portion for sale to employees. It is believed government will then retain majority shares in what Health Minister Joe Coye calls a private public sector company. Today - Universal sent a release saying that despite this announcement business continues as usual at the hospital.