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$10-million surgery center rises in Subic

Filipino health care firm TotalMED Subic Corp. has put up a $10-million medical and wellness center in the Subic Bay Freeport.

The facility, inaugurated last week, is the first free-standing, full-service ambulatory surgery center in the Freeport area, Subic Bay Metropolitan Authority (SBMA) Administrator Armand Arreza said in a statement.

TotalMED partnered with Taiwanese health care products manufacturer MedTecs for this venture.

"This presents a high income-generating potential for Subic Bay, which has an excellent environment that is naturally conducive to healing," Mr. Arreza said.

Citing government data, he said the estimated total revenue generated by medical tourism in Asia amounted to $2.5 billion in 2006. This is expected to grow further to about $4.5 billion in 2012.

The same statement quoted Raymond Ricardo, president and chief executive officer of TotalMED, as saying that his company plans to put up more medical facilities and services in the country.

TotalMED is targeting the more than 100,000 employees of companies located in Subic and Clark free ports; some 5,000 retired US servicemen residing in the Subic-Clark area; as well as medical tourism clients from the United States, Europe, Canada, Australia, and Asia.

"With the completion of the Subic-Clark-Tarlac Expressway project [by the end of this April], we are also anticipating a heavy influx of patients from the northern part of Luzon, like Baguio City, Ilocos, Tarlac, and Pampanga," Mr. Ricardo said. — BSSD, BusinessWorld

Source: GMANews.tv