Developer signs pact with UCCP to corner majority shares of 2 hospitals in Cebu, Tacloban | Inquirer News
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Developer signs pact with UCCP to corner majority shares of 2 hospitals in Cebu, Tacloban

By: - Senior Reporter / @inquirervisayas
/ 04:09 PM August 20, 2020

CEBU CITY –– A real estate and hotel developer in the Visayas and Mindanao has signed a joint venture agreement with the United Church of Christ in the Philippines (UCCP) to acquire majority shares of two of its hospitals.

AppleOne Properties, Inc., through its healthcare arm AppleOne Medical Group (AMG), is taking the helm in developing and expanding the Visayas Community Medical Center (VCMC) in Cebu City and the United Shalom Medical Center (USMC) in Tacloban City.

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VCMC was founded by UCCP in 1952 as a response to the medical needs from World War II. Since then, the hospital has stood as a well-regarded institution in Cebu, a press statement read.

“With an alignment in values and social mission stemming from the joint venture, VCMC will stand as a testament to both institutions’ mutual goal of transforming and uplifting Filipino communities through quality healthcare made accessible,” it said.

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Formerly Bethany Hospital, USMC, on the other hand, was a distinguished healthcare establishment in Tacloban until it experienced the devastations brought about by supertyphoon “Yolanda” in 2013.

The hospital remains limited in its medical functions, operating as a medical laboratory for the time being. Under the partnership with AMG, USMC will expand its services and modernization of facilities to become a premier health and wellness facility in the Tacloban area.

Ray Go Manigsaca, AppleOne Properties president and chief executive officer, emphasized the significance of the venture.

“With our strength and expertise in development, and a keen foresight into the market, strengthened with our agile and dynamic approach to all our businesses, we are wholly committed to strengthening the foundation of our healthcare industry with well-equipped and well-supported hospitals around the region,” he said.

UCCP Chairman Keith Quebral shared similar sentiments.

“The partnership shall enable VCMC to perform its mission in accordance with the highest standards of excellence in providing quality healthcare services to those in need. The UCCP views this partnership agreement as a shared healing ministry of the Church that advocates health for all and promotes access to proper medical care.”

LZB

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TAGS: Business, hospitals, hotel developer, joint venture agreement, Mindanao, real estate, UCCP, United Church of Christ in the Philippines, Visayas
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