The Medical City Reports 2009 Financial Performance

Manila, Philippines – The Medical City (TMC) reported after tax profits of PHP480.45 million, up by 11% against PHP434.39 million in 2008. 

Total revenues increased by 5% - PHP3.38 billion in 2009 against PHP3.22 billion in 2008. Despite modest revenue growth in 2009, all profitability metrics showed consistent improvements from 2007, including gross profit margins, EBITDA margins, operating profit margins and after-tax profit margins.

 

“Notwithstanding the impact of the global economic downturn on our country, we managed to attain our profit targets,” says Margaret A. Bengzon, Group Head of TMC’s Strategic Services Group. Ms. Bengzon attributes TMC’s solid financial performance to “substantial investments in quality and safety programs, and new product development and service enhancements, accompanied by aggressive and effective management of operating and overhead costs.” 

 

Also augmenting TMC’s customer base is the increase in patient volume among satellite clinics located in various parts of the country. The 2009 performance continued to best previous years’ with a 30% rise in revenue - PHP213 million in 2009 from PHP164 million in 2008.  Two new locations were established in 2009, one in Victory Mall (Caloocan) and another in Ali Mall (Cubao). 

 

“We continue to seek ways to improve our performance, raising the standards in health care to provide our patients with better options and to achieve better outcomes. This commitment to service excellence is the foundation of our success as an organization,” Ms. Bengzon concludes.

 

 

The Medical City (TMC) is a tertiary health care organization with over forty years’ experience in hospital operation and administration towards the establishment of its world-class health care complex, serving some 40,000 in-patients and 400,000 out-patients annually. TMC has a medical staff of 1,100 physicians who are established experts in their various fields of specialization. This core of professionals is complemented by a 2,200-strong human resource complement, engaged in allied medical, administrative and support services.

 

At the heart of TMC's service philosophy are new paradigms of hospital care addressing the entire continuum of health needs, and the patient as an equal, informed and empowered partner in the pursuit and preservation of health. TMC is accredited by the Joint Commission International (JCI), the world’s most prestigious accrediting body for international health care organizations, and is a 2010 Reader’s Digest Asia Trusted Brands Awardee. www.themedicalcity.com.

 

For media inquiries, contact:

 

Nina V. Posadas

avposadas@medicalcity.com.ph

H/P: 09178565338

 

Nest Marie G. Ramos

ngramos@medicalcity.com.ph

H/P: 09175120378

 

Yvonne Policarpio

ypolicarpio@webershandwick.com

H/P: 09285039395