Northwest Hospital Pakistan

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 Alliance Healthcare (Private) Limited (“AHL” or the “company”), was incorporated in 2005 by a group of medical professionals to develop healthcare facilities in Peshawar, the capital city of the province of Khyber Pakhtunkhwa (KP), Pakistan. The Company became fully functional in 2009 with commencement of operations by its flagship 300-bed Northwest General Hospital and Research Center (NWGH). Pathology, radiology, cardiology are some of the key departments of the hospital and it is the only private hospital in province to have Nuclear Medicine and Radiotherapy (approved by Pakistan Nuclear Regulatory Authority). AHL has expanded to include two medical education facilities and a teaching hospital (under construction), all of which are still in ramp-up or construction phase. -          Northwest Institute of Health Sciences (NWIHS), operating since 2014, is a health education institution that offers diplomas in seven different technologies, bachelors programs, diplomas/degrees in nursing, and doctorate program in physical therapy. NWIHS operates with 98 staff and has about 1200 enrolled students at a separate leased premise. -          Northwest School of Medicine (“NWSM” or “medical college”), operating since 2016, is a medical college that offers Bachelor of Medicine (MBBS). NWSM has 196 staff positions and 500 enrolled students (capacity of 500). -          Northwest Teaching Hospital (“NWTH” or “teaching hospital”) is a new under construction teaching hospital. NWTH currently operates as a 205 non-profit-bed hospital with ICU, two operation theatres, medical, surgical, paediatrics, nursery, obstetrics and gynaecology wards. Medical consultants working at NWTH are employees of NWSM, who also teach students. A 46 bed COVID-19 ward is also functional in same facility.NWSM and NWTH are located on one large site having common civil structure at the basement levels with above ground buildings as separate structures. The complex also includes two separate students housing blocks (one each for female and male housing). Construction of three of four basement levels is completed, and the medical college and teaching hospital are currently operational in these levels. The proposed IFC investment (the “project”) is for IFC to provide AHL with up to PKR 2bn (up to approximately US$14m equivalent) in the form of preferred shares to support: completion of Phase 1 of NWTH (civil structure work for 9 floors, and finishing work for the ground floor and basement 1) and medical college (structure for all six floors is complete and IFC support is needed to finish the 5th and 6th floors and the remaining façade), construction of student housing, other capex for NWGH (including acquiring a new MRI scanner), and refinancing of existing debt.