Press Release | 24


Medilines Readies for Blast Distribution of Medical Devices by Year-End

Medilines Distributors Inc (MEDIC), a long-time distributor of medical equipment in the Philippines, expects concurrent distribution and installation of medical devices nationwide this second half of 2023 as the completion of healthcare infrastructure gradually progresses.

The medical equipment industry is expected to expand in the coming years with the Government’s continued support in enhancing healthcare facilities nationwide. The Philippine Health Facility Development Plan 2020-
2040, which aspires to close our country’s health infrastructure and service gaps, is underway, starting with the building of new and the expansion of current healthcare facilities. These health centers will soon equip themselves with critical devices that can address the country’s top causes of morbidity, as well as prevalent infectious diseases. Of utmost urgency include devices that can detect, treat, and monitor cancer and kidney diseases, which continue to increase in incidences.

“These are exciting times for the medical device industry. As these facilities are completed, Medilines looks forward on securing contracts to furnish these facilities with our state-of-the-art medical equipment, adding to our current list of newly awarded and ongoing projects,” said Medilines’ President, Patricia V. Yambing.

Medilines’ ongoing cancer therapy equipment projects, which have infrastructure requirements, are scheduled to be completed by end of this year. Meanwhile, diagnostic imaging projects have started implementation quarter three of this year. Meanwhile, renal care devices, which the Company expects to more than double in sales year-on-year, are ready for delivery and installation at the soonest green light from both newly built and newly expanded dialysis centers nationwide.

The Company is also ramping up its dialysis business to meet the increased demand for treatments nationwide driven by PhilHealth’s expansion of hemodialysis coverage to 156 sessions from 90 sessions per year.

Medilines Distributors Inc. has recorded revenues amounting to Php234M for the first half of 2023, a 73% decline compared to the same period last year.

“We are confident in achieving our full year topline and bottom-line targets given our robust project pipelines that will come onstream for the remainder of this year. We remain bullish with the industry as we have also seen various tailwinds in the country’s growing healthcare market where we are part of. The Company’s revenue model is currently non-linear for the most part, as the delivery timeline of our devices is heavily dependent on crucial factors such as the availability of budgets for capital outlay, schedule of procurement via bidding, and completion of infrastructure. For this year, since most hospitals invested on infrastructure on the first half, procurement of supplies and equipment are expected to happen in the second half,” added Yambing.

This press release may contain “forward-looking statements” which are subject to a number of risks and uncertainties that could affect MEDIC’s business and results of operations. Although MEDIC believes that expectations reflected in any forward-looking statements are reasonable, it can give no guarantee of future performance, action or events