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Manila Bulletin devider Business devider Medilines posts record sales, profit

Medilines posts record sales, profit

Published Feb 16, 2022 04:00 pm

Medilines Distributors Inc.n reported a record performance for 2021 with net income jumping 50 percent to P154 million from P103 million in 2020 while revenues improve 10 percent to P1.6 billion last year.

In a statement, the firm said both profit and revenue figures are record achievements for the company that has a yearly track record of sales and profit growth even prior to the pandemic.

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Medilines said its 2021 revenue growth is driven by the firm’s delivery of world-class Cancer Therapy equipment. For the year 2021, Medilines has successfully delivered five cancer radiation therapy machines all over the country.

It has installed Varian linear accelerators (LINACS) in Jose R. Reyes Memorial Medical Center in Manila, Sacred Heart Medical Center in Angeles City, and Region I Medical Center in Dagupan.

Last December, the Company has also delivered LINACs in Vicente Sotto Memorial Medical Center in Cebu City and in Cotabato Regional and Medical Center in Cotabato City. The installation of the latter will be completed in the first quarter of 2022.

Meanwhile, the Medilines achieved a banner bottom line figure, posting more than 50 percent growth, attributable to the strategic shift in product mix.

“The Company sees sustained growth moving forward as the company shifts to a balance of medical equipment and consumables mix,” it said.

The offering of fast-moving, high margin consumables products would complement the company’s growing deployment of medical equipment, driving healthy topline sales while significantly growing profitability.

Medilines Distributors Inc. Chairman Virgilio B. Villar

Medilines’ foray into the consumables business is one of the pillars of its growth strategies. During the pilot run of its dialysis consumables business from 2020 to 2021, sales grew by more than 200 percent from P60 million to P200 million.

The Company is now targeting the sales of its consumable products to over P300 million in 2022.

Medilines has been one of the country’s leading suppliers of quality medical equipment used for Cancer Therapy, Dialysis and Diagnostic Imaging in the Philippines for 20 years.

It has partnered with world-renowned brands in healthcare such as Philips (Netherlands), GE (US), and B. Braun (Germany).

Now it distributes medical equipment from Siemens Healthineers (Germany), Varian Medical Systems (US) and B. Braun Avitum (Germany) and has extended its partnership with these companies, with the vision of providing more world-class healthcare facilities to Filipinos.

“As the global healthcare system continues to take centerstage due to the pandemic, Medilines believes that the healthcare industry in the Philippines has plenty of room to grow,” said Medilines Chairman Virgilio Villar.

He added that, “We believe that both the government and private sectors will continue to demand for quality healthcare equipment to meet Western standards. Both sectors will also need to expand their facilities to cater to a growing population, especially in key cities nationwide.”

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Virgilio B. Villar Medilines Distributors Inc.
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