Healthway Medical Network (HMN), the hospital and clinics arm of Ayala Healthcare Holdings Inc. (AC Health), will be taking over the 300-bed university hospital of Far Eastern University-Dr. Nicanor Reyes Medical Foundation Inc. (FEU-NRMF) in Quezon City.
In a statement, Ayala Corporation said they have entered into a partnership which consists of a management agreement of up to 24 months starting January 2024, where HMN will manage hospital operations on behalf of FEU-NRMF.
This will be followed by the full turnover of hospital operations through a 35-year lease agreement. Both agreements shall be effective upon fulfillment of certain conditions.
Under the management agreement, HMN will have oversight over clinical, financial, and administrative operations. The interim management period is expected to facilitate the smooth transition of FEU-NRMF operations to HMN.
AC Health and FEU-NRMF expressed that they look forward to the partnership, which will allow them to leverage each other’s strengths to deliver better patient care.
“We are thrilled to welcome FEU-NRMF in our growing network of hospitals and clinics. By leveraging FEU-NRMF’s technical and academic expertise, we hope to deliver a better healthcare experience to our patients,” said AC Health President and CEO Paolo Borromeo.
FEU-NRMF President and COO Juan Enrique Reyes said, “it is an honor to be added to the illustrious list of partners of the country’s oldest and largest conglomerate.”
“While FEU-NRMF has remained steadfast in maintaining its reputation as one of the top medical and allied health schools in the Philippines, the increasing competition in the hospital industry prompted us to explore collaborating with Ayala,” he noted.
Reyes added that, “seeing how they have built a vertically integrated system of hospitals in less than 10 years, supported by a robust network of mall-based and corporate clinics, pharmacies, and digital health has been remarkable.”
“We look forward to learning from the best and tapping their operational expertise to provide better opportunities for our patients, people, and students,” he said.
Founded in 1955, FEU-NRMF Medical Center was originally established in Morayta, Manila to serve the healthcare needs of the community and provide training for the students of the Institutes of Medicine and Nursing.
With the scarcity of hospitals and the growing demand for education in the medical and allied health professions, it relocated to the dense, yet underserved, neighborhood of Fairview in 1999.
Through the years, it has risen to prominence as the only Level 3 hospital in its district, offering seven fellowship and ten residency training programs to complement its roster of degree programs in Medicine, Nursing, Pharmacy, Radiologic Technology, Medical Laboratory Science, Physical Therapy, and Respiratory Therapy.