APPLEONE Medical Group (AMG) is allotting P2 billion to redevelop and modernize three hospitals under its healthcare business portfolio.
Of the total amount, P1 billion has been set aside for the modernization of the Visayas Community Medical Center (VCMC) whose construction of new amenities and renovations is already underway. This will be completed in two years’ time.
“We are modernizing VCMC to be at par with the pioneering hospitals here in our country and abroad,” said Ray Go Manigsaca, president and chief executive officer (CEO) of AppleOne Properties Inc. (API).
API, through AMG, signed a joint venture agreement with the United Church of Christ in the Philippines (UCCP) in June 2020 to acquire the majority shares of VCMC in Cebu City.
AMG also entered into a joint venture with Brokenshire Integrated Health Ministries Inc. and UCCP to acquire a 52 percent share of Brokenshire Hospital in Davao City.
The healthcare arm of API also acquired stakes of United Shalom Medical Center (formerly Bethany) in Tacloban City.