MANILA - Private tertiary care hospital, The Medical City, is going full blast with its expansion into holistic care, both for local and foreign clients.

In a press briefing Monday, strategic services head Margaret Bengzon said TMC is building satellite offices and outpatient clinics in shopping malls as part of its plans to reach more clients beyond its Ortigas-based main 500-room facility.

In the next 12 months, Bengzon said TMC plans to create a network of satellite clinics all over the country in addition to its existing outpatient clinics in Antipolo City,  Pasig, Cainta, Marikina, Congressional Avenue in Quezon City, Fairview in Quezon City, Lipa City in Batangas province, and the Ayala Trinoma mall in Quezon City.

TMC is eyeing shopping malls in Dagupan, Iloilo and Cebu as venues for the new clinics.

TMC's strategy puts it head-to-head with other investors in the country's health industry. For example, Hong Kong-based First Pacific Holdings Corp, the parent company of telecommunications giant Philippine Long Distance Corp, has been investing in a network of hospitals in the country through Metro Pacific Investments Corporation (MPIC), which has about 2,000 beds.

Listed firm MPIC has already invested in Medical Doctors Inc., owner and operator of the Makati Medical Center, and in Davao Doctors Hospital Inc. It is also eyeing a a spa facilty in Cebu.

Medispa

TMC, which currently has 500 beds, is likewise planning for a wellness facility and spa in Tagaytay. Bengzon said this is part of their plans to for TMC to make a mark in the medical tourism industry. The wellness facility is meant to be the group's way to attract local upscale health and wellness enthusiasts.

Davao is also being eyed as an alternative or additional site of the medispa.

Bengzon said their venture into a medispa will likely be in partnership with resort or land owners.

TMC president and chief executive officer Alfredo Bengzon added that the institution is aiming to reach out to a larger base of clientele by
holding more forums and international roadshows to promote its services in the United States, the Middle East, Japan, Korea, and Taiwan.

Since last year, TMC has aggressively been marketing its services to the established foreign markets of Guam, Palau and other U.S. territories as well as Japan, Korea and Taiwan.

It has also been expanding its Wellness Program, which now includes fitness, nutrition, weight management, aesthetic surgery and dermatology at its main facility in Ortigas.

Ortigas facility

Expansion works in its 1.5-hectare medical complex along Ortigas Avenue in Pasig City are also ongoing.

A second 15-storey Nursing tower will add over 100,000 square meters. Once completed, total patient rooms for TMC will increase to 800 from the existing 500.

Construction started in July 2008. The new tower will house facilities for additional special services, diagnostics, administrative offices, and an international-class wellness spa.

The 40-year old TMC is owned and operated by The Professional Services, Inc., which in turn is 40 percent owned by doctors led by Dr. Alfredo R. A. Bengzon, a former health secretary and dean of Ateneo School of Medicine and Public Health.

Last year, the 18 percent stake of Lopez-led Benpres Holdings Corp was sold to an affiliate of Lombard Investments, a private equity firm with interests in the medical tourism industry of Thailand, Taiwan, Hong Kong and San Francisco.

Financial performance

TMC's total revenues in 2008 increased 20 percent to P3.22 billion.

A one-time write-off on the sale of an investment property allowed it to post a net profit of P434.4 million by year-end, resulting in a gross profit margin of 38 percent.

"With our successful strategic thrusts of high-value, high impact service development, accompanied by robust market projection and cost management, The Medical City is truly well-positioned to achieve even steeper trajectories in growth and leadership in the years to come," Margaret Bengzon said.

Ongoing expansions would be funded by internally-generated cash and bank loans, said TMC senior vice-president for finance Benita Macalagay.

The firm had previously mulled listing in the stock exchange to raise cash.