NovacareHospital

pending

Maple Leaf Cement Factory Limited (“MLCF” or the “Sponsor”) is setting up a greenfield tertiary-care hospital in Pakistan, and a network of feeder clinics, through its wholly owned subsidiary Novacare Hospitals (Private) Limited (“NHPL” or the “Company”). The hospital is being constructed on a 6.5-acre land parcel outside Islamabad and offers space for additional expansion. IFC’s investment includes a loan and equity in the amount of up to US$16 million and mobilization of loans for up to US$50 million. Phase I of the Project for which construction started in July 2024, includes a greenfield tertiary care hospital consisting of 250 beds (including 68 intensive care units), 11 operation theatres and 80 outpatient clinics offering complex services across various specialties starting with obstetrics and gynaecology, paediatrics, cardiology, oncology, orthopaedics, emergency and trauma services, lab and imaging, etc. Two feeder clinics (14,000 – 20,000 square feet) will be developed across Islamabad and Rawalpindi to establish an integrated clinical network for better reach to the patient pool. Phase 2 of Novacare Islamabad will include expansion by up to 200 inpatient beds, additional outpatient clinics, operating theatres etc., and will include a parking tower. The proposed hospital has a functional covered area of 440,000 sq. ft and an additional subgrade covered area including parking of 154,000 sq. ft. The proposed project will comprise of 13 floors in total, including eight floors of an in-patient tower, two basements, lower ground and upper ground floors including requisite space for mechanical, electrical and plumbing (MEP) services. The Project benefits from clinical affiliation with Imperial College Healthcare NHS Trust (“Imperial NHS Trust”), one of the largest National Health Service (NHS) Trusts in United Kingdom that manages five hospitals in central and west London, for a period of six years (and renewable in three years intervals thereafter). NHPL intends to use the same protocols and guidelines as used by Imperial NHS Trust for patient treatment & safety, clinical hygiene, infection control etc. Andalus Holdings Limited (“Andalus”), a healthcare investment and operating company will be responsible for Project development, financial structuring, construction and operations of the hospital. The founding team of Andalus has experience of managing greenfield hospitals in collaboration with another NHS Trust in the UAE and Saudi Arabia.