Dr Devi Shetty, the Indian heart surgeon who is building a health city in the Cayman Island has won The Economist’s 2011 award for business-process innovation.

The magazine acknowledged Dr Devi Shetty’s skill as a surgeon but said his innovative contribution to global health care was what won him the prestigious accolade.

Tom Standage, Digital Editor at The Economist and chairman of the judges panel said: “He is renowned for his skill as a surgeon, but we are recognising his additional talent as an innovator, by naming him the winner of our business-process innovation award.”

Dr Shetty founded his Narayana Hrudayalaya Hospital in Bangalore in 2001 with 1,000 beds, compared with an average of 160 in American heart hospitals.

He has proposed a multi-million dollar medical complex to be built in East End with the first phase due to open in March 2013.

The 140 bed hospital will treat patients from all over the world and will spread over a number of years to create a world class medical centre.

Dr Shetty is a specialist in pediatric and cardiac care. He has already donated a catheter lab to the George Town Hospital.