Labaid to invest Tk 1,000cr for 2nd cancer hospital
Labaid is going to invest Tk 1,000 crore to build its second cancer hospital in order to meet the growing demand from patients suffering from the deadly disease and support healthcare research, according to a top official.
The new quaternary hospital named Labaid Super Specialty Hospital will be built in the capital's Baridhara and will have 500 operational beds and 200 day-care beds. A quaternary-level care facility is more specialised than a tertiary-level hospital.
The initiative from the private healthcare service provider comes as the facilities to treat cancer patients has remained inadequate in Bangladesh despite the rising number of patients with various forms of cancer, forcing people to seek treatments abroad.
Currently, Bangladesh has just one public hospital -- National Institute of Cancer Research & Hospital having 500 beds -- that treats cancer patients. Only three hospitals in the private sector are in operation in the segment.
But according to a World Health Organisation report, there are around 15 lakh cancer patients in Bangladesh with 150,000 dying each year. Every year two lakh people are attacked by cancer.
The Global Cancer Observatory estimates that 109,000 people died of cancer in Bangladesh in 2020. It was 108,137 in 2018 and 91,300 in 2012.
Labaid launched its first 200-bed cancer hospital in the capital's Green Road considering huge demand, said Sakif Shamim, managing director of Labaid Cancer Hospital and Super Speciality Centre.
"We launched our first cancer hospital two years ago and we have been getting a huge response from patients."
According to Shamim, the number of cancer patients in the country might be much higher than estimated since Labaid Cancer Hospital itself has received three to four times more patients than it had expected initially.
"Patients are coming to us as we are offering comprehensive treatment facilities under a single roof," he said, adding that the quality of treatment at the hospital is alike the standard of Singapore.
Labaid has collaboration agreements with Singapore General Hospital and the National Cancer Center of Singapore for its first cancer hospital.
Under the new plan, Labaid authorities plan to offer treatment facilities in line with the standard seen in the US.
"We are going to ink an agreement with New York-based Mount Sinai Hospital, which will be our co-partner," Shamim said.
Labaid and Mount Sinai Hospital have already signed a term sheet and the final agreement is expected to be signed soon.
A term sheet is a nonbinding agreement that shows the basic terms and conditions of an investment. But it serves as a basis for more detailed, legally binding documents.
Bangladesh has no hospital that is included in the top 100 healthcare facilities in the world. But Shamim said Labaid has set a target to enter the ranking.
The proposed cancer hospital will also have a trauma management and injury clinic and will treat first- and second-degree burn patients.
The necessary funds for the hospital would be mobilised through equity investments, borrowing from banks, and/or issuing bonds.
The planned hospital will have five institutes and around 35 departments and a research centre. It will also have cardiac, neuro, pediatric and kidney transplant units.
Each department will have a separate section for adult and child patients. The hospital will include a rehabilitation centre and a pain management centre.
"The clinical research centre will be modern and technologically upgraded, with a focus on cancer research," said Shamim.
"Bangladesh has lagged behind when it comes to research and it was even more evident during the coronavirus pandemic. So, we have included the research centre in our hospital."
The hospital will have 250 beds in the first phase and the number of beds would be increased in the second phase considering the occupancy rate.
The company has already bought a piece of land for the hospital and received a no-objection certificate from the city corporation to use the land. It has secured approval from the Bangladesh Investment Development Authority and the health ministry for establishing the hospital as well.
The feasibility study has been carried out and the operational and business plans have been formulated.
Now, EK Architects, one of the leading architectural firms in Bangladesh, is preparing the design in association with architects from the US, Singapore and India.
Labaid plans to submit a plan to Rajdhani Unnayan Kartripakkha within a few months for approval.
The hospital spanning 7 lakh square feet of space would be built on 1.5 acres of land. It will be a 23-storey building with five basement floors.
Labaid Cancer Hospital and Super Speciality Centre on Green Road has a hybrid module operation theatre so its infection rate has been zero so far and the recovery rate is faster, Shamim said, adding that patients are not needed to stay at the intensive care units and high dependency units after surgery.
"At 30 per cent, our survival rate is quite good."
The chief executive said the cost of cancer treatment at the hospital would be similar to hospitals in India in some cases. In other cases, the costs would be higher.
"But if transportation and accommodation expenditures are taken into account, the treatment cost would be higher abroad than in Bangladesh."
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