The Development Bank of the Philippines (DBP) granted P1.286-billion loan to build the first heart and brain center in Region IV-A.
The borrower, Batangas-based Global East Medical Center Lipa, Inc. (GEAMC), will enhance the delivery of basic and specialized health services in the Cavite-Laguna-Batangas-Rizal-Quezon (CALABARZON) region and was granted the loan under DBP’s Strategic Healthcare Investments for Enhanced Lending & Development (SHIELD) program.
As of May 31, 2022, DBP has approved 133 accounts under the SHIELD Program for a total of P35-billion with 20 of the projects located in Southern Luzon with aggregate funding of P6.5-billion.
“This is in line with the bank’s thrust of providing financial support to private healthcare providers to improve healthcare services in the countryside,” remarked DBP President and Chief Executive Officer Emmanuel G. Herbosa.
Global East Medical Center Lipa Inc. is a private corporation owned and operated by practicing medical practitioners and business experts in Lipa City.
The new facility will bolster the capacity of the region to cater to the growing demand for medical services which currently stands at 219,235 inpatient bed days and 150,621 outpatient visits.
The P1.136-billion loan will partially finance the construction of a seven-storey Level 2 hospital along the J. P. Laurel National Highway in Lipa City while the remaining P150-million will cover the acquisition of medical equipment and machineries.
The expansion is a boon to the people of Lipa City and nearby municipalities, especially for patients with cardiovascular and cerebrovascular diseases being managed invasively or surgically.
“The project is also expected to decongest Metro Manila-based specialty hospitals while improving the bed capacity in the province from 3,088 to 3,296 or a bed to population ratio of 1:817,” according to Herbosa.
“DBP is one with the National Government in its thrust to build specialty hospitals in various parts of the country, boost the local healthcare industry and provide accessible, quality healthcare services to the Filipino people,” says DBP Executive Vice President for Development Lending Paul D. Lazaro.
DBP is the sixth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; environment; social services and community development.