Medilines Distributors Inc., a listed medical products distributor, said Tuesday its net income in 2022 rose 13 percent year-on-year to P191.9 million, driven mainly by sales of cancer therapy equipment and growth in the dialysis product segment.
Total revenue last year jumped 24 percent to P1.96 billion, with P1.1 billion added by the distribution and delivery of cancer therapy equipment to major hospitals. The dialysis segment grew 76 percent.
“We remain bullish with the industry for this year, and we believe that we are in the right position to take on more opportunities as we sustain our leadership in the medical equipment and consumables distribution market,” said Medilines’ president and chief executive officer Patricia Yambing in a statement. “We are looking at a steady growth in 2023, as the government implements its Philippine Health Facility Development Plan,” she added.
Medilines is preparing to help in the government’s focus in improving healthcare facilities, particularly the effort to create regional specialty centers across the country and expansion of its dialysis wards in state-owned hospitals.
