Medilines expects record year after P1-B orders

MEDILINES Distributors, Inc. is expecting another record year in 2022 after the company closed contracts to install P1-billion worth of cancer therapy equipment.

“The delivery and installation contracts of these machines already account for half of our 2022 full year revenue target putting us on track to hit another record year in sales,” Medilines Chairman Virgilio B. Villar said in a statement.

“We are committed to bring advanced cancer treatment into the country’s public and private hospitals through these machines,” he added.

Medilines said it would also deliver a linear accelerator, which is a new technology that is capable of delivering treatment doses accurately. The company distributes these machines by US-based Varian Medical Systems.

The company will deliver cancer therapy equipment to hospitals beginning the second quarter as soon as the sites are ready. The hospitals that will be receiving the machines include Legazpi City’s Bicol Regional Training and Teaching Hospital, Northern Mindanao Medical Center in Cagayan de Oro City, and the Philippine Children’s Medical Center in Quezon City.

Medilines is also set to complete cancer projects in Cebu and Davao.

Meanwhile, its cancer project at the Philippine General Hospital is also expected to be finished this year after the company finishes the bunker setting for the machine.

The company said last week that it ended the year with a 50% profit jump compared with the P103 million generated in 2020. It also logged a 10% top line growth to P1.6 billion in unaudited gross revenues.

Medilines shares at the stock market closed unchanged at P1.14 apiece on Friday. —