Medilines Distributors Incorporated, listed on the Philippine Stock Exchange (PSE) under the symbol “MEDIC” ended 2021 with P1.6 billion in unaudited gross revenues for fiscal year 2021. Full year 2021 resulted to a top line growth of about 10% and profit growth of over 50% from the previous year’s P103 million, closing the year with outstanding numbers. Both figures are record achievements for the Company who has a yearly track record of sales and profit growth even prior to the pandemic.

The Company’s 2021 revenue growth is driven by its delivery of world-class Cancer Therapy equipment. For the year 2021, Medilines has successfully delivered five cancer radiation therapy machines all over the country. It has installed Varian linear accelerators (LINACS) in Jose R. Reyes Memorial Medical Center in Manila, Sacred Heart Medical Center in Angeles City, and Region I Medical Center in Dagupan. Last December, the Company has also delivered LINACs in Vicente Sotto Memorial Medical Center in Cebu City and in Cotabato Regional and Medical Center in Cotabato City. The installation of the latter will be completed in the first quarter of 2022.

Meanwhile, the Company achieved a banner bottom line figure, posting more than 50% growth, attributable to the strategic shift in product mix. The Company sees sustained growth moving forward as the Company shifts to a balance of medical equipment and consumables mix. The offering of fast-moving, high margin consumables products would complement the Company’s growing deployment of medical equipment, driving healthy topline sales while significantly growing profitability.

Medilines’ foray into the consumables business is one of the pillars of its growth strategies. During the pilot run of its dialysis consumables business from 20202 to 20221, sales grew by more than 200% from P60 million to P200 million. The Company is now targeting the sales of its consumable products to over P300 million in 2022.

Medilines has been one of the country’s leading suppliers of quality medical equipment used for Cancer Therapy, Dialysis and Diagnostic Imaging in the Philippines for 20 years. It has partnered with world-renowned brands in healthcare such as Philips (Netherlands), Ge (US), and B. Braun (Germany). Now it distributes medical equipment from Siemens Healthineers (Germany), Varian Medical Systems (US) and B. Braun Avitum (Germany) and has extended its partnership with these companies, with the vision of providing more world-class healthcare facilities to Filipinos.

“As the global healthcare system continues to take centerstage due to the pandemic, Medilines believes that the healthcare industry in the Philippines has plenty of room to grow,” according to Chairman Virgilio Villar. “We believe that both the government and private sectors will continue to demand for quality healthcare equipment to meet Western standards. Both sectors will also need to expand their facilities to cater to a growing population, especially in key cities nationwide,” he added.

This press release may contain “forward-looking statements” which are subject to a number of risks and uncertainties that could affect the MEDIC’s business and results of operations. Although MEDIC believes that expectations reflected in any forward-looking statements are reasonable, it can give no guarantee of future performance, action or events.