HDFC Bank Parivartan signs MoU with IISc Bangalore, Pledges Rs.107.76 Crore for construction of Bagchi-Parthasarathy Hospital at IISc Bangalore

Bengaluru, August 02, 2022 (GNI): HDFC Bank Parivartan today signed a memorandum of understanding with the Indian Institute of Science (IISc) Bangalore. As per the MoU, HDFC Bank Parivartan has pledged Rs.107.76 Crore to support three wings of Bagchi-Parthasarathy Hospital, IISc Bangalore. The three wings to be supported by the Bank are the Cardiology Wing, Radiology wing, and Emergency Medicine wing.

IISc Bangalore is setting up a multi-speciality, 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 end of 2024 while the first batch of MD/PhD students will be admitted in the year 2025.

HDFC Bank has partnered with IISc Bangalore for the first time with the aim of improving the healthcare infrastructure in the region..

Listed below is the direct impact of HDFC Bank’s partnership with IISc Bangalore 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 atleast 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, Ms. Ashima Bhat, Group Head, ESG & CSR, Business Finance & Strategy, Administration and Infrastructure, HDFC Bank. “The new hospital and the medical school will not only bolster the healthcare needs of the entire region but will also provide a new generation of physician-scientists. HDFC Bank has always supported nation-building activities and the impact of the medical school/hospital is expected to set the tone for sustainable health goals and policies for the nation. It will serve as a model of clinical research and training that can be emulated across the country. We look forward to working closely with IISc Bangalore in this journey.”

Prof Govindan Rangarajan, Director, Indian Institute of Science 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,” stated in the press release.

HDFC Bank is the amongst the largest corporate CSR spenders in the country. The bank’s key focus areas include care for climate, rural development, education, skill development, healthcare & hygiene and financial literacy under Parivartan.

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