Maple Leaf Subsidiary to Build $110 Million Hospital in Islamabad

Novacare Hospitals (Private) Limited, a wholly owned subsidiary of Maple Leaf Cement Factory Limited (PSX: MLCF), will start constructing a state-of-the-art hospital in Islamabad and has signed an international affiliation agreement with Imperial College Healthcare NHS Trust, a leading UK teaching hospital group. “The total investment in the project will be USD 110 million, and the hospital will be located on a 50-kanal plot in DHA Phase-V, Islamabad,” MLCF told the main bourse in a stock filing today. The 250-bed hospital will have a covered area of 550,000 square feet and will provide comprehensive tertiary healthcare across 28 clinical services. The hospital is being designed by HKS Inc., a leading global design firm. The filing added that as a result of its affiliation with Imperial College Healthcare, Novacare will benefit from the expertise of a leading UK teaching hospital group. Novacare will gain expert advisory input from Imperial College Healthcare on models of care, services, and staffing, and aims to implement their clinical standards and protocols. Through these measures, Novacare intends to achieve the same standards of healthcare as is delivered at Imperial College Healthcare’s five London hospitals.