NEWS AND INSIGHTS

Inks MoU with GE Healthcare Bangladesh Limited to finance clients willing to purchase their equipment

IPDC Finance, the first private sector financial institution of Bangladesh established in 1981 and GE Healthcare Bangladesh Limited, the world’s leading medical technology company today signed a Memorandum of Understanding (MoU) under which IPDC Finance will start financing prospective healthcare clients who are willing to purchase medical technologies from GE Healthcare.

Present in Bangladesh since 1998, GE Healthcare Bangladesh Limited is one of the country’s leading medical technology companies in this market with leadership positions in PET CT and Cyclotron. Diagnostic imaging equipment market in Bangladesh is about USD 85 million and is projected to grow at~13% CAGR to USD128 million by 2022, with smaller towns, urban agglomerations, upcoming cities  in some districts  showing increased appetite for investments in healthcare. Hitherto, healthcare equipment financing was only available to large corporate players through banks establishing a clear need to broaden financing options from other forms of financial institutions, especially Non-banking Financial Institutions.

Commenting on the development, Mominul Islam, Managing Director and CEO of IPDC Finance Limited said, “IPDC recognises the market potential for medical equipments and current low financing penetration. We have been focusing on addressing some of the toughest challenges across various sectors of Bangladesh through our innovative financing solutions. Through this MoU with GE Healthcare Bangladesh Limited, we will be able to expand the financing coverage to prospective healthcare clients including standalone diagnostic centres, especially in tier 2/3 cities to enable the faster expansion of affordable healthcare solutions in the country”.