Medilines remains resilient despite pandemic

Published November 19, 2021, 3:25 PM

by James A. Loyola

Medilines Distributors Incorporated, one of the leading distributors of quality medical equipment in the country, has remained resilient despite the challenges brought about by the COVID-19 pandemic.

“We are proud to be at the frontline of the country’s fight against COVID-19 through the urgent distribution of much needed equipment,” said Medilines Chairman Virgilio Villar, brother of billionaire Manuel B. Villar, Jr.

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As an integral part of the country’s healthcare industry whose products are regarded as “essential goods and services,” Medilines has been deploying a significant number of COVID-19 related equipment since the onset of the pandemic across the Philippines despite strict lockdowns and varying protocols per locality.

This includes CT scans and mobile x-rays, which help detect possible lung and other complications, and dialysis machines that treat COVID-19 patients who develop kidney infections.

“But Medilines has always been essential with or without a health crisis. We believe that there will always be a demand for medical products, in as much as there will always be a patient needing care,” Virgilio Villar said.

Medilines Distributors Inc. Chairman Virgilio B. Villar

The CT scans, MRIs, and other diagnostic imaging devices offered by Medilines are essential equipment found in hospitals for the administration of medical care as these help physicians diagnose health conditions accurately, recommend proper treatment, and assess the effectiveness of any medicine or other medical intervention.

Meanwhile, the demand for dialysis machines and linear accelerators offered by Medilines for the treatment of kidney diseases and cancer, respectively, remains significant and continues to grow due to rising incidences of these diseases, as well as related diseases like diabetes, all of which are part of the top causes of morbidity in the country.

Based on a recent independent study by Ken Research, in terms of expenditure, the healthcare industry rose from P489.1 billion in 2014 to P911.4 billion in 2020 (or a compounded annual growth rate of 10.9 percent).

Healthcare expenditure is expected to grow further at a CAGR of 11.2 percent to reach P1.5 trillion by 2025, driven by a growing and aging population, growing incidences of diseases such as cancer and pneumonia, as well as increased efforts by the government to expand and modernize our healthcare facilities.

Medilines has demonstrated a track record of growth at a higher rate than that of its industry. From 2018 to 2020, their topline grew at a CAGR of 11.9 percent, while net income grew at a CAGR of 16 percent, owing to the resilient demand for their medical products.

According to Villar, this trend of growth is expected to continue whether the COVID-19 pandemic continues to persist or not for several reasons. Firstly, Medilines’ product portfolio is composed of medical devices that are crucial to the basic operations of hospitals and to the urgent needs of the Filipinos.

Secondly, even before the pandemic began, Medilines had already been growing in sales and profits. Lastly, its 20 years of business experience has proven its established operational expertise and adaptiveness.

“Our goal has always been to provide Filipinos with world-class medical equipment in their time of need and this stays true in the current situation,” says Villar.

He added that, “We will remain steadfast in our commitment to make critical equipment available to primary providers wherever in the country they may be as the pandemic drags on and beyond.”

 
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