NH establishes strategic foray into Bangladesh Enters into partnership for operating cardiac sciences department in a state-of-the art soon to be commissioned 350 bedded hospital
Bangalore, India, 11th September, 2018 – NH Health Bangladesh Private Limited, a step-down subsidiary of Narayana Hrudayalaya Limited, has entered into definitive agreements to partner with Imperial Hospital Limited in Chittagong, Bangladesh to operate and manage their cardiac sciences department. This 350-capacity bedded hospital is expected to be commissioned within the next six months. Located in the second largest city of Bangladesh, Chittagong, the hospital is envisaged to be one of its kind in the region with state of the art medical equipment and world-class infrastructure. Chittagong region faces an acute shortage of tertiary healthcare infrastructure with ~7,900 people per bed as per the WHO report. Backed by Prof Dr. Rabiul Husain, one of the most legendary medical practitioners in Bangladesh, the hospital is envisioned to be a premium healthcare facility in the region. Improving upon NH’s distinguished Asset-Right framework, this association would not entail any upfront capital outlay from NH while ensuring a reduced time-to-market. This Heart Centre (P&L responsibility lies with NH) is a strategic fit for NH and will act as an extension of the Eastern cluster and will benefit from operational synergies emerging out of the region.
Management Comment Commenting on the announcement, Dr. Ashutosh Raghuvanshi, Vice Chairman, Managing Director and Group CEO, Narayana Hrudayalaya Limited, said “We are very excited about venturing into Bangladesh healthcare market through our flagship specialty, cardiac sciences. We witness a strong patients’ footfall across the network from Bangladesh signifying a strong brand recall NH enjoys in the region. This engagement goes a step further without any capital outlay from NH emphasizing our focus on fiscal prudence while helping us forge strong partnerships with reputed organizationssuch as Imperial Hospital”.
About Narayana Hrudayalaya Limited Founded in 2000 by Dr. Devi Prasad Shetty and headquartered in Bengaluru, Narayana Hrudayalaya Limited is one of the leading healthcare service providers in India, operating a chain of multispecialty, tertiary and primary healthcare facilities. The Company has a network of 23 hospitals and 7 heart centres across India and single hospital overseas at Cayman Islands with over 6,100 operational beds across all its centres and potential to reach a capacity of over 7,100 beds. For further details, please contact us at [email protected]