Health Injection

Sumith Arangala, Chief Executive Officer, LVL Energy Fund (left) handing over the agreement to Nanda Fernando, Managing Director, Sampath Bank

Oct 01, 2007 (LBO) – Aureos South Asia Fund (ASAF) has invested five million dollars in an Apollo hospital in Bangladesh, the South Asian focused investment fund said. The Bangladesh Taka 343 million injection goes to STS Holdings, which owns the Apollo Hospital in the country.

The investment will boost STS Holdings’ plans for further investments in the expanding private healthcare sector of Bangladesh.

Bangladesh has seen a number of economic reforms in recent years which lay the foundations for a much more favourable environment for foreign investment, Nissanka Weerasekera, Regional Managing Partner of the Aureos South Asia Fund, said.

Companies like STS are well positioned to benefit from increased disposable income from the country’s growing middle class.

“While this is the first investment for Aureos in Bangladesh, we have a wealth of experience of investments in the South Asia region.

Apollo Hospital Dhaka is the first private multi-specialty tertiary-care hospital in Bangladesh, providing international class healthcare.

“Since commencing operations in April 2005, it has become the leader in the private