Axelum opens hospital in Northern Mindanao

LISTED coconut product maker Axelum Resources Corp. has branched out into healthcare by opening its first hospital in Misamis Oriental.

The listed Philippine company launched through civic affiliate AMDG Foundation the 100-bed San Isidro Polymedic General Hospital in Gingoog City, Misamis Oriental, it said in a stock exchange filing on Wednesday.

The medical center offers a suite of services including hemodialysis, emergency room, intensive care, extended laboratory and diagnostics, radiology, surgery, delivery room, neonatal, outpatient clinics, pharmacy and other essential amenities, Axelum said.

“At Axelum, our overarching goal is to combat poverty through livelihood, education and now through healthcare,” Axelum President and Chief Executive Officer Romeo I. Chan said in the statement. “We believe that every Filipino deserves access to quality medical services and modern facilities.”

The company aims to provide professional healthcare to the local community and indigenous people of Northern Mindanao.

The company said the project was launched though AMDG Foundation and in partnership with the Cagayan de Oro Polymedic Medical Group.

Axelum said the hospital seeks to serve more than 350,000 residents and has a long-term aspiration to become a premier end-referral hospital in the region. It also aims to expand into highly specialized treatments and services.

Axelum had a net loss of P428 million in the nine months ended September, a reversal of its P717.28-million net income a year earlier. Revenues fell by 19% to 4.28 billion.

Shares of the company inched up by 0.88% to close at P2.30 each. — Adrian H. Halili