Press Release | 25


Medilines Secures New Contracts for 2023

Medilines Distributors Inc (MEDIC), one of the leading distributors of medical equipment in the Philippines, announces the successful closure of new contracts during the second half of 2023. These new contracts align with various programs of the government to expand healthcare infrastructures nationwide.

Medilines has secured contracts to set up new dialysis centers in government hospitals and supply state of the art dialysis machines as well as consumables in these facilities starting Q4 of 2023 and continuing to 2024.

“We are excited to see amazing progress in the implementation of government healthcare programs which includes the Philippine Health Facility Development Plan, among others. With some dialysis treatment infrastructure nearing completion, we can start the delivery and installation of much-needed dialysis machines and supplies in select areas. This will help our fellow citizens gain better access to life-saving treatments,” said Patricia Yambing, President of Medilines.

As announced last June 23, 2023, PhilHealth has expanded the coverage of dialysis treatments from 90 sessions to  156  sessions.  This  would  mean  that  chronic  kidney  disease  patients  will  meet  the  DOH-recommended sessions of 3 times a week. Compounded with the development of more dialysis infrastructure, the dialysis market looks promising in the succeeding years.

“On the other hand, we also look forward to the expansion and completion of other specialty centers like cancer centers as we anticipate additional orders of our cancer therapy machines and diagnostic imaging machines to equip these facilities,” adds Mrs. Yambing.

Given the nature of the contracts and their dependence on site readiness, the Company anticipates revenue recognition for some of these projects to push forward to 2024, resulting in a potential impact on this year’s revenues.

“In the meantime, we look forward to further expanding the reach of our product lines as new specialty centers emerge nationwide,” adds Mrs. 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 MEIDC believes that expectations reflected in any forward-looking statements are reasonable, it can give no guarantee of future performance, action or events.