Landbank partners for affordable, quality medicines

MANILA, Philippines - Government-owned Land Bank of the Philippines has tied up with RiteMed and the financial technology arm of PLDT Inc. and Smart Communications to provide affordable and quality medicines to Filipino consumers.

Landbank, RiteMed Philippines Inc., and FINTQ launched the Tamang Alaga TxTMED program – “Kapag kailangan ng gamot, dapat may gamot.” – a medicine loan service available to employees from the government and private sector with payroll accounts with Landbank.

The program that also covers overseas Filipinos allows consumers to electronically order and purchase medicines through their mobile phones without the hassle of outright cash payment.

TxTMED leverages the Landbank Loan Saver as a digital platform to provide borrowers the option to allocate a portion of their approved net loan proceeds to purchase medicines.

“This partnership with RiteMed and FINTQ attests to the endless possibilities in terms of financial technology and the value of public-private sector collaboration, as we work towards optimizing digital transactions to improve access to quality healthcare across the country,” Landbank president and CEO Alex Buenaventura said.

On the other hand, RiteMed would offer a whole range of maintenance medicines at special prices through TxTMED, where medicines would also be delivered for free.

“RiteMed is committed to providing access to quality and affordable medicines for our fellow Filipinos. TxTMED is a collaboration of leaders in the healthcare, telecommunications, and finance industries that enable us to fulfill this mandate,” RiteMed general manager Vincent Patrick Guerrero said.