Cavite hospital gets P400 million DBP loan

MANILA, Philippines — The Development Bank of the Philippines (DBP) has extended a P400-million loan financing for the construction of a hospital in Cavite amid growing healthcare demand in the province.

DBP approved the funding support to Healthstar Hospital and Medical Center Inc. (HHMCI) for the first level 2 hospital in General Mariano Alvarez (GMA) in Cavite.

A level 2 hospital contains all the elements of a basic hospital under level 1, but it has additional facilities such as an intensive care unit, as well as specialized doctors for gynecology and pediatric.

HHMCI is a start-up private corporation owned by practicing medical professionals and business experts in Cavite.

It is located in the central business district of GMA and near various commercial establishments and industrial estates.

Under the agreement, P278 million will be utilized to partially finance the construction of a seven-story hospital while the remaining P122-million will cover the acquisition of medical equipment and machinery.

HHMCI is expected to be a 100-bed level 2 hospital that can serve over 500,000 residents in the fifth district of Cavite, particularly the areas of GMA, Silang, Carmona, and Dasmariñas City.

It is under DBP’s Strategic Healthcare Investments for Enhanced Lending and Development (SHIELD) program.

DBP president and CEO Michael de Jesus said the credit assistance to HHMCI aims to improve the delivery of critical healthcare services amid residents’ rising demand.

It is also part of DBP’s goal to give financial support to private healthcare providers for the improvement of the delivery of healthcare services to Filipinos, especially those living in the provinces.

Currently, GMA Cavite has only two healthcare facilities that are limited to providing basic hospital services.

“DBP hopes to address the increasing demand for responsive and quality healthcare services in the municipality and nearby areas,” de Jesus said.

The project is expected to contribute to the improvement of the healthcare sector in the municipality by increasing the bed-to-population ratio to 1:1,407 from the present 1:5,072.

As of end-2022, DBP has approved 148 accounts under the SHIELD program for a total of P38.95 billion.

DBP said its SHIELD loan program has helped partner healthcare institutions to increase overall bed capacity in the country by more than 8,000 beds and to address higher demand for quality medical care of Filipinos.

The program also supports the Sustainable Development Goal 3, which aims for universal health coverage, including financial risk protection, access to quality essential healthcare services, as well as safe, effective, quality and affordable essential medicines and vaccines for all.