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Virgilio Villar to further capitalize on opportunities in healthcare sector to drive Medilines’ growth

Medical equipment supplier Medilines Distributors Inc. of businessman Virgilio Villar plans to take advantage of increasing growth opportunities in the healthcare industry to sustain its momentum moving forward.

“There will be significant opportunities in the healthcare industry which will drive the growth of the company for the coming years. Such will further solidify Medilines’ leadership in said market.” said Villar, chairman of Medilines.

Villar said the company has already made steps to address the government’s call for more investments in healthcare with the inauguration last July of the company’s own warehouse to store its consumable supplies and medical equipment.

Medilines has also beefed up its portfolio by taking on large projects similar to the construction of the most comprehensive cancer diagnostic facility which is installed in Southern Philippines Medical Center in Davao, and Vicente Sotto Memorial Medical Center in Cebu.

The company reported a 13 percent rise in its nine-month net profit to P112 million, up 13 percent from the same period last year.

Removing the effect of extra-ordinary income from the sale of real estate property, core income grew 58 percent year-on-year to P112 million.