Qualimed Health Network, a joint venture between Ayala Land Inc. and Mercado General Hospital Inc. has spent 28 percent or P1.4 billion of its P5-billion budget to develop 10 hospitals and 10 clinics, according to a company official.
In 2014, the medical facilities network said it plans to invest around P5 billion to put up 10 Qualimed Hospitals and 10 Qualimed clinics by 2020.
At the opening of the Qualimed Hospital-San Jose Del Monte on Monday, Qualimed President and Chief Executive Officer Edwin Mercado told reporters that the average cost of constructing a single hospital ranges from P400 to P430 million.
The Qualimed group has two operating hospitals, Qualimed Hospital- Iloilo and Qualimed Hospital San Jose del Monte. Qualimed Nuvali is set to open before the year ends.
The total construction costs of the three hospitals, which comprises fit outs and the hospital equipment, amounts to P1.3 billion.
For the clinics, the group currently operates four that include Trinoma Mall, Fairview Terraces Mall, UP Town Center – all in Quezon City – and Mckinley Road in Makati City.
Mercado noted two more Qualimed Clinics in Bonifacio Global City and in Cebu IT Park will be opened this year.
The construction cost for each clinic ranges from P10 million to P12 million, which brings the total investment costs for the 6 clinics to be operational this year at P72 million.
Mercado said the goal of having 10 hospitals and clinics by 2020 does not mean all of the development will be operational by the target year.
“We have set up roughly a target of 10 hospitals by 2020, but of course in various stages, that does not mean that all hospitals will be open by 2020. Some will still be in the planning stage and some will be in the licensing stage,” Mercado said.
He noted that the target for clinics is more achievable than the hospital business, because of the longer construction period in brining a hospital to operational stage.
“The 10 clinics are doable, but the 10 hospitals–the time to build a hospital is definitely longer, just getting the licenses and approvals. So the 10 will be in various stages,” Mercado said.
On Monday, Qualimed opened the 105-bed Qualimed Hospital- San Jose del Monte in ALI’s Altaraza Town Center estate in San Jose del Monte, Bulacan.
Other locations for future hospitals include Balintawak, Arca South in Taguig, Kawit in Cavite, Cebu, Davao, Bacolod, and Makati.
In contrast, QualiMed looks to put up clinics in Ayala Developments such as Alabang Town Center, Abreeza Mall in Davao, Centrio in Cagayan de Oro, and Harbor Point Mall in Subic.