Medilines eyes more capital-intensive projects

FERNANDO ZHIMINAICELA-PIXABAY

MEDILINES Distributors, Inc. said it is expanding its consumables business to boost revenue and profits.

“As the company enters its third decade, it is working on expanding its consumable business to drive both topline and profit growth,” the company said in its 20th anniversary statement on Thursday.

This year, the company inaugurated its new warehouse equipped with cold storage for delicate consumables.

“We are also open to new opportunities. It is… Medilines’ goal to maintain dominance in the healthcare equipment market through its continuous participation in major and capital-intensive projects,” Medilines Chairman Virgilio B. Villar said.

Medilines also intends to tap its “vast suppliers and contacts” in the healthcare industry to generate revenues of “up to P2 billion this year” to surpass its financial performance in 2021.

The company aims to “strengthen its role” in the healthcare industry by supporting private and government institutions in procuring medical equipment.

“The company is set to deliver [this year] cancer therapy equipment to Bicol Regional Training and Teaching Hospital in Legazpi City, Northern Mindanao Medical Center in Cagayan de Oro City, and the Philippine Children’s Medical Center, in Quezon City,” it said.

Diagnostic imaging (CT scan, MRI, X-ray), dialysis (dialysis machines), and cancer therapy (linear accelerators) are all types of medical equipment that the company offers.

These equipment help address the most prevalent diseases among Filipinos such as renal diseases, cancer, and cardiovascular diseases, the company said.

“It is important for us to maintain the strong partnerships we have cultivated with our principals,” Mr. Villar said.

Medilines’ attributable net income for the first semester was 19.1% lower at P80.96 million from P100.05 million last year.

Medilines closed 1.37% higher at P0.74 apiece on Thursday. — Justine Irish D. Tabile