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Listed healthcare firm Medilines posts P170 million net profit in 2021
Listed healthcare firm Medilines posts P170 million net profit in 2021
ABS-CBN News
Published Jun 13, 2022 11:08 AM PHT
Linear Accelerator distributed by Medilines. Handout
MANILA - Listed medical equipment supplier Medilines Distributors Inc on Monday said it has posted a record net profit of P170 million in 2021, which is a 65 percent jump from the P103 million the previous year.
Expanding its consumables product offerings as well as strong fiscal policies has resulted in the double-digit net profit growth, the company said in a disclosure to the stock exchange.
Medilines remains "fully committed to boosting our fundamentals as well as continuously introducing quality life-saving innovations to the country," its chairman Virgilio Villar, the brother of Manny Vilalr, said.
As of the first quarter, the company said it already has a P1 billion worth of cancer therapy projects.
Demand for medical equipment and supplies surged during the COVID-19 pandemic.
Medilines said the government's initiative to advance medical facilities, Filipinos giving importance to healthcare and the implementation of the Universal Healthcare law have also contributed to its growth.
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