Apollo Hospitals on Monday announced that it has entered into a partnership with Imperial Hospital Ltd (IHL) to operate and manage IHL's 375-bedded multi-speciality tertiary care hospital in Chittagong, Bangladesh.
Apollo Hospitals has signed a brand licensing, operations and management (BOMA) agreement. As per the agreement, Apollo Hospitals will manage the day-to-day operations and clinical service delivery. The Chittagong hospital, branded as Apollo Imperial Hospitals Ltd, will have experienced medical staff, clinicians and administrative staff aimed at providing outstanding services to patients.
"In line with our vision to drive positive change across the world and to touch over a billion lives, we have collaborated with Bangladesh's Imperial Hospital Limited to provide our finest expertise in the management of the tertiary care hospital in Chittagong," Prathap C Reddy, Founder & Chairman, Apollo Hospitals India, said at an event held in the city.
Apollo Hospitals team will conduct regular medical and quality audits to ensure patient safety and the best medical outcomes, the healthcare group said in a press statement.
"Our association with Apollo Hospitals will enhance the healthcare ecosystem and improve the quality of life of patients in Bangladesh. We look forward to having a unified approach in jointly offering superior tertiary care services in the region," said Rabiul Husain, Chairman, Imperial Hospital Limited.
Direct investment from World Bank
Dinesh Madhavan, President Group Oncology and International, Apollo Hospitals, said the tertiary care hospital was set up at a cost of about ₹1,000 crore by the Imperial Hospital Group along with direct investment from the World Bank.
As part of the partnership, Apollo Hospitals will charge a management fee which includes a fixed fee and a variable share of the revenue. "The option to take a stake is also there in the agreement. If we do well and the current Board members allow us, we can get into financial discussions and participation. However, it is too early to talk about it now," Madhavan said. The hospital will commence operations on July 22.