Labaid Cardiac and General Hospital Limited

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Labaid Group (“Labaid” or the “Group”) is one of the leading healthcare service providers in Bangladesh (refer https://labaidgroup.com/), with four hospitals and a chain of 25 diagnostic centres across Bangladesh. Collectively, the healthcare entities of the Group employ around 850 doctors and serve around 3 million outpatients and 25,000 inpatients per year. IFC proposes an A loan of up to US$8.1 million equivalent in Bangladeshi Taka (BDT), for Labaid Cardiac and General Hospital Limited (“LCGH” or the “Company”), a newly formed entity of the Group to support the Company’s investment for setting up a new 100 bed specialty hospital (the “Project”) in Uttara, a suburb in the north of the capital city of Dhaka. The new hospital will have specialized departments relating to Orthopaedics, Gynaecology, Gastroenterology, General Surgery, Internal Medicine, Cardiology, and Diagnostics. The Project design is expected to be finalized by Sep 2023, tendering process to be completed by Dec 2023, construction to start in Mar 2024 and commissioning is expected to be around Jun 2025.