Thursday, 29 April 2010

Medical City set to spend P200M for hospital hub in Angeles, Pampanga

Emilia Narni J. David
BusinessWorld
http://www.bworld.com.ph/main/content.php?id=10076

THE MEDICAL City, the Pasig-based hospital owned and operated by Professional Services, Inc., will spend about P200 million for a new facility in Central Luzon.

Medical City President and Chief Executive Alfredo R.A. Bengzon told reporters in a press briefing yesterday the hospital will establish a hub for its Central Luzon outpatient clinics in Angeles, Pampanga.

“For Luzon, we are going to spend P200 million to upgrade the facilities we have bought and to introduce our flagship programs. We will be setting up a world-class hospital hub for Central Luzon soon,” said Mr. Bengzon.

The new hub will have around 200 beds, he said.

Early this month, Medical City bought the Global Medical Network from Evangeline C. Johnson for P150 million. The Global Medical Network includes the Great Saviour International Hospital in Iloilo, Mercedes Medical Center in Pampanga, and three outpatient clinics in Dagupan, Cavite and Olongapo.

The network caters to United States military veterans living in the Philippines. Its founder, Ms. Johnson, is now a shareholder in Medical City.

Medical City said funding for the acquisition of the Global Medical Network came from the sale of 2,700 shares and internal cash.

Funding for expansion will come from internal funding and borrowings, officials said.

Medical City announced P700 million in total investments, including the new Pampanga hub, following the acquisition of Global Medical Network early this month.

Mr. Bengzon explained that Medical City would keep its medical centers in Pampanga, Dagupan, Cavite and Olongapo. The new hub will be a separate building.

Margaret A. Bengzon, head of the Medical City’s strategic services group, said the new hub in Central Luzon would begin construction in the third quarter of the year.

“The center in Angeles will have a groundbreaking in the third quarter.

Basically what we are looking for when expanding is somewhere where we can add value, [an area that is] not served well,” she said.

Medical City will also expand the Great Saviour International Hospital in Iloilo to 250 beds from 100. A new medical arts building to house doctors’ clinics will also be built; the hospital is just awaiting court approvals for the site before starting construction early next year.

Medical City also has a clinic in Guam to accept referrals for medical tourism.

Ms. Bengzon said that despite the increase in the group’s bed capacity, most of the growth would be coming from outpatients.

“Our inpatient volume is not growing as much so the growth is really in the outpatient clients. This is in the mid- to long-term,” she said.

Medical City has some 40 years of experience in hospital operation and administration, serving some 40,000 inpatients and 380,000 outpatients a year.

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