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| Tuesday, 17 August 2004 |
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Nawaloka Hospital goes for Rs. 300 million IPO Sri Lanka's premier hospital Nawaloka has launched a Rs. 300 million Initial Public Offer, presenting Sri Lankans to share in its much respected healthcare tradition. The 15 million shares on offer will be priced at Rs. 20 each. The funds will be channelled as part of an expansion program that will see Nawaloka re-setting the benchmark that it set since its launch 18 years ago. The expansion drive is expected to cater to the escalating countrywide demand for quality healthcare services. Nawaloka Hospitals is now extending an invitation to the public to be part of its phenomenal 18-year success story. "I am confident that many will take advantage of this sound investment opportunity and will benefit greatly through this rewarding partnership with us. It is also a great opportunity for those who have never invested in stocks before, to make this prudent investment to enjoy privilege benefits at the Nawaloka Hospitals" said H. K. Dharmadasa. The vision and foresight of its founder, H. K. Dharmadasa has moulded Nawaloka into a revolutionary and modern hospital boasting of having treated over 10 million patients. The Nawaloka group of companies employ more than 4,500 staff and is the first and only Hospital in Sri Lanka to have received the National Quality Award for Large scale Service and ISO 9902. "We have pioneered many technological firsts in the healthcare industry, including CT scanning and MRI scanning," Dharmadasa said. Nawaloka has performed over 5,000 cardio thoracic surgeries with an unsurpassed success rate resulting in an annual turnover exceeding Rs. 1 billion. In 1986 Nawaloka broke new ground with the establishment of Critical Care Units at its inception in 1986. Over the years they have established Medical Intensive Care, Surgical and Coronary Care and Cardiac Intensive Care Units. The Sri Lanka Heart Association for outstanding contributions to Cardio Vascular Surgery also recognised Nawaloka. While respecting professional ethics and maintaining a high level of professionalism Nawaloka has provided medical care at an international level. "The National Quality Award presented to us is a testimony to our excellence in service. The hospital will make every effort to continue providing the highest possible quality of service in the future," Dharmadasa said. Nawaloka houses the country's topmost medical professionals and provides patients with an environment that consistently upholds the best in standards and services. Nawaloka's unique medical exchange program ensures continuous value-addition and training and has been awarded the accolade of being a baby friendly hospital by the World Health Organisation. The Japanese Overseas Health Administration Centre (JOHAC) has also recognised it as the only collaborating private hospital in Sri Lanka for medical exchange. The hospital has a modern Operating Theatre Complex of six theatres built and equipped to international standards, with specialised theatres for Cardiac, Orthopaedic, Neuro, and General surgery. Nawaloka is now on an ambitious and accelerated drive to expand its legacy of care with ultra-modern additions to its hospital infrastructure. The primary objectives of the issue are to finance the expansion of the hospital where a five storied 50,000 sq. ft. building is proposed to have the out patient treatment. This will release the rooms in the existing structure. Hence the revenue is expected to rise through the rooms falling vacant and also through the enhanced services offered in the new structure. The remaining funds raised through the issue will be utilised to partially settle debt. |
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