Middle East Health Care Provider Keen on Investing in RP

Manila Bulletin, February 13, 2013 | Go to article overview

Middle East Health Care Provider Keen on Investing in RP


DM Healthcare, the biggest healthcare provider in India and the GCC (Gulf Cooperation Countries) countries (Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and UAE), is keen on investing in the Philippines' healthcare sector initially with the establishment of pharmacies and possibly hospitals later as the company has allocated $600 million for its expansion program in the next five years.

Dr. Azad Moopen, DM Healthcare chairman, told reporters in a press conference for the launch of the DM Healthcare Foundation Philippines Inc., which is providing free pediatric cardiac surgery to at least 50 Filipino children in two years.

According to Moopen, they can enter into the Philippine market in partnership with Filipino group or they can come on their own as equity investor in a healthcare venture.

"We have exploratory discussions with a couple of companies who are into healthcare, we could enter either as a partner of an existing business that requires financing or we can start something new with us as the strategic or investing partner like an equity investor," Moopen said.

Initially, Moopen said the DM Healthcare may possibly enter into the pharmacy business here because it has an existing expertise in retail drugs distribution under its chain of pharmacies called Aster.

The second option is to go into local distribution of branded or generics medicines from India, the world's largest generics drugs manufacturer. The third option is to enter into franchising arrangements of its Aster brand of drugstores in the country. In fact, Moopen has initial discussions with the Philippines' father franchising Samie Lim.

Former Health Secretary Jaime Galvez Tan said only 60 percent of Filipinos have access to pharmacies with 24,000 villages have no access to drugstores. …

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