January 26, 2019 – DHAKA, Bangladesh, DUBAI and LONDON – Evercare and CDC Group (CDC) today announced an agreement to acquire a controlling interest in STS Holdings Ltd (STS). The investment, made through the Evercare Health Fund, includes financing from CDC Group, the United Kingdom’s impact investor and Development Finance Institution, and support from The Rise Funds. STS joins the Evercare network of hospitals that operate across South Asia and Africa and will provide immediate additional scale to the Evercare platform, significantly increasing the number of patients served. The transaction is expected to close in the first half of 2020.

Founded in 2005, STS operates a 425-bed multi-disciplinary hospital in Dhaka with healthcare providers across 29 specialties and is currently developing a new, 400-bed facility in Chittagong. STS’ facility in Bangladesh was the first hospital to receive Joint Commission International (JCI) Accreditation in 2008, an international stamp for excellence in clinical practices in patient care and safety and remains the only JCI-Accredited hospital in the country.