Labaid plans to spend Tk 1,000 crore on a second cancer hospital.

According to a top official, Labaid will spend Tk 1,000 crore to build its second cancer hospital in order to meet the rising demand from patients suffering from the fatal disease and support medical research.

In the capital's Baridhara, a new quaternary hospital with the name Labaid Super Specialty Hospital will be constructed. It will have 500 operational beds and 200 daycare beds. Compared to tertiary-level hospitals, quaternary-level care facilities are more specialized.

The private healthcare service provider's initiative comes at a time when people are increasingly traveling abroad for treatment because Bangladesh's facilities for treating cancer patients are still insufficient.

There is currently only one public hospital in Bangladesh that treats cancer patients, the 500-bed National Institute of Cancer Research & Hospital. There are only three private hospitals operating in the segment.

However, a World Health Organization report estimates that Bangladesh has 15 lakh cancer patients, with 150,000 of them passing away every year. Two lakh people are diagnosed with cancer each year.

According to the Global Cancer Observatory, Bangladesh will experience 109,000 cancer-related deaths in 2020. In 2018 it was 108,137, and in 2012 it was 91,300.

According to Sakif Shamim, managing director of Labaid Cancer Hospital and Super Speciality Center, the company opened its first 200-bed cancer hospital on the Green Road in the capital because of the high demand.

"We opened our first cancer hospital two years ago, and patients have been responding incredibly well."

Shamim asserts that given that Labaid Cancer Hospital has admitted three to four times as many patients as anticipated, the overall number of cancer patients in the nation may be significantly higher than previously thought.

Patients come to us because we provide comprehensive treatment facilities under one roof, he said, adding that the hospital's level of care is on par with Singapore's.

For its first cancer hospital, Labaid has agreements for collaboration with Singapore General Hospital and the National Cancer Center of Singapore.

Authorities in Labaid intend to provide treatment facilities that meet US-standard requirements under the new plan.

Shamim stated, "We are going to sign an agreement with Mount Sinai Hospital in New York, which will be our co-partner.

The final agreement is anticipated to be signed soon after Labaid and Mount Sinai Hospital sign the term sheet.

A non-binding agreement called a term sheet outlines the fundamental terms and conditions of an investment. But it acts as a foundation for more thorough, legally significant documents.

None of the top 100 healthcare facilities in the world have a hospital in Bangladesh. However, according to Shamim, Labaid has set a goal to climb the rankings.

The proposed cancer hospital will also provide first- and second-degree burn treatment, as well as a trauma management and injury clinic.

The hospital's funding requirements would be raised through equity investments, bank loans, and/or the issuance of bonds.

The future hospital will have 35 departments, five institutes, and a research center. Additionally, it will have kidney transplant, cardiac, neuro, and pediatric units.

Patients who are adults and children will each have their own area in each department. The hospital will have a center for pain management and rehabilitation.

With an emphasis on cancer research, the clinical research center will be contemporary and technologically advanced, according to Shamim.

When it comes to research, Bangladesh has lagged behind, and the coronavirus pandemic made this even more obvious. Consequently, the research center is now a part of our hospital.

The hospital will initially have 250 beds, and depending on the occupancy rate, the second phase will add more beds.

The business has already purchased a plot of land for the hospital and been given permission to use it by the city corporation. The Bangladesh Investment Development Authority and the health ministry have given their blessings for the hospital's construction.

The operational and business plans have been created, along with the feasibility study.

The design is currently being prepared by EK Architects, one of the top architectural firms in Bangladesh, in collaboration with designers from the US, Singapore, and India.

Within a few months, Labaid intends to submit a proposal for approval to Rajdhani Unnayan Kartripakkha.

On 1.5 acres of land, a hospital with a 7 lakh square foot footprint would be constructed. The structure will have five basement floors and be 23 stories tall.

According to Shamim, patients at Labaid Cancer Hospital and Super Speciality Centre on Green Road do not need to stay in intensive care units or high dependency units after surgery because the facility has a hybrid module operating room that has a zero infection rate to date and speeds up recovery.

"Our survival rate is quite good at 30%."

The hospital's chief executive stated that in some cases, the cost of cancer treatment would be comparable to that of hospitals in India. Other circumstances would result in higher costs.

"However, if travel and lodging costs are considered, the cost of the treatment would be higher abroad than in Bangladesh."