HDFC Bank Parivartan signs MoU with IISc, pledges Rs 107.76 cr
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HDFC Bank Parivartan has signed a Memorandum of Understanding (MoU) with the Indian Institute of Science (IISc) under which the former has pledged Rs 107.76 crore to support three wings of the latter's Bagchi-Parthasarathy Hospital, an official release from IISc stated on Tuesday.
The three wings to be supported by the bank are the cardiology wing, radiology wing, and emergency medicine wing, the release said.
IISc is setting up a multi-specialty, not-for-profit, 832-bed hospital, called the Bagchi-Parthasarathy Hospital, along with a postgraduate medical school within its Bengaluru campus. The hospital is expected to be fully functional by the end of 2024 while the first batch of MD/PhD students will be admitted in 2025.
HDFC Bank has partnered with IISc for the first time with the aim of improving the healthcare infrastructure in the region. As the direct impact of HDFC Bank's partnership with IISc within the first five years (2025-2029), the cardiology wing is expected to see about 1,83,000 patients in the outpatient section and 18,300 patients in the in-patient section and train at least 20 super specialist doctors.
The radiology wing is expected to benefit an estimated 4,28,326 patients in the first five years and train 20 super specialist doctors. The emergency medicine wing will benefit 56,304 patients and train 50 super specialist doctors.
"HDFC Bank's partnership with IISc Bangalore is aligned with our commitment to improve healthcare and medical infrastructure across the country," said Ashima Bhat, Group Head, ESG and CSR, Business Finance and Strategy, Administration and Infrastructure, HDFC Bank.
Prof Govindan Rangarajan, Director of IISc, said: "After pursuing excellence in science and engineering research for 113 years, IISc has embarked upon a new frontier of clinical research through the establishment of the Bagchi-Parthasarathy Hospital and IISc Medical School."
"We are thankful to HDFC Bank for being a major partner in this new initiative and providing support for the establishment of three important wings: cardiology, radiology, and emergency medicine at the hospital. We look forward to expanding this engagement with HDFC Bank in transforming the future of healthcare in this country."
