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.
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".
Shares of Narayana Hrudayalaya Ltd was last trading in BSE at Rs.249 as compared to the previous close of Rs. 252.95. The total number of shares traded during the day was 12759 in over 46 trades.
The stock hit an intraday high of Rs. 258 and intraday low of 249. The net turnover during the day was Rs. 3254387.