Dhaka’s Apollo becomes Evercare Hospital
Following a foreign direct investment of over Tk1,000 crore, the rebranded hospital has become part of Evercare Group’s global chain of 28 hospitals
Apollo Hospitals Dhaka will become Evercare Hospital Dhaka with effect from April 1 this year.
International healthcare group Evercare stated this in a press release.
The rebranding follows Evercare and CDC Group's acquisition of a controlling interest in STS Holdings Ltd – the infrastructure owner and operator company of the premium hospital in the capital.
Following the acquisition and rebranding, Evercare Hospital Dhaka has joined Evercare Group's network of hospitals that operate across South Asia and Africa.
With a portfolio comprising 28 hospitals, 18 clinics, 54 diagnostic centres and two hospitals under construction, Evercare aims to continuously improve quality and standardised care to improve clinical outcomes and patient safety.
Evercare is wholly owned by the Evercare Health Fund, a $1 billion emerging markets healthcare fund managed by The Rise Fund, the impact investment platform of global asset manager TPG.
TPG is a leading investor in healthcare globally, having invested over $15 billion in the sector.
"Being part of the global healthcare group enables us to benefit from Evercare's clinical and operational expertise, helping us to improve patient outcomes whilst reducing costs and driving efficiency," said Dr Ratnadeep Chaskar, chief executive officer of Evercare Hospital Dhaka.
Evercare Hospital Dhaka will continue to provide premium care via its state-of-the-art facility.
In addition to streamlining procurement and optimising operations, Evercare Group intends to enhance the hospital's clinical capabilities by establishing super specialty departments within cardiac services, liver transplants and oncology.
The group also plans to open Evercare Hospital Chattogram in the second half of the year. With a capacity of 400 beds, this hospital will address the growing needs of the communities in southern Bangladesh.
"Our investment in Bangladesh's healthcare sector is fully aligned with our mission to serve emerging markets requiring access to quality and comprehensive care," said Andrew Currie, chief operating officer of Evercare.
According to sources, the foreign group recently invested more than Tk1,000 crore to acquire over 55 percent of the shares of STS Holdings – the largest ever foreign direct investment in the country's healthcare industry.
STS had been running the hospital under a franchise agreement with the outgoing premium international healthcare group Apollo.