Fischer Medical Ventures Subsidiary Develops First LGU-Funded MRI in Philippines
Filing Summary
Fischer Medical Ventures Limited’s step-down subsidiary, Time Medical Philippines Inc, has developed the Philippines’ first locally funded MRI facility in Bulacan. The facility, located at Bulacan Medical Center, is part of a public-private partnership initiative led by the local government. The project aligns with the national healthcare vision and features advanced imaging technology. The facility aims to improve access to diagnostic services for residents. The initiative is in line with President Ferdinand R. Marcos Jr.’s directive to enhance healthcare infrastructure through public-private collaborations.
Fischer Medical Ventures Limited, through its step-down subsidiary Time Medical Philippines Inc, has developed the Philippines’ first locally funded Magnetic Resonance Imaging (MRI) facility. This facility is situated at the Bulacan Medical Center and marks a significant development in the country’s healthcare infrastructure. The project is a result of a public-private partnership, spearheaded by the local government of Bulacan, to enhance access to advanced diagnostic services for the province’s residents.
The financial specifics of the project were not disclosed in the filing. However, the initiative is notable for being the first MRI facility in the Philippines funded by a local government unit (LGU). This development is part of a broader strategy to make advanced medical diagnostics more accessible and affordable to the local population, reducing the need for travel to private hospitals or major urban centers for such services.
The operational scope of the facility includes the installation of Time Medical’s PICA Open MRI system. This system is designed for patient comfort and practicality, featuring an open architecture that reduces anxiety for claustrophobic, elderly, and pediatric patients. The technology is helium-free, utilizing a permanent magnet, which makes it cost-efficient and low-maintenance. Additionally, the system includes a Teleradiology feature, allowing for remote interpretation of scan results in real time, thereby expanding access to medical expertise even in remote areas.
The timeline for the project’s completion and operational commencement was not specified in the filing. However, the inauguration of the facility indicates that it is now operational and serving the local community. The project aligns with the national healthcare vision and is expected to set a benchmark for similar initiatives across the country.
The primary entities involved in this project are Fischer Medical Ventures Limited and its step-down subsidiary, Time Medical Philippines Inc. The local government of Bulacan, under the leadership of Governor Daniel Fernando, played a crucial role in facilitating the development of this facility. The collaboration exemplifies how local governments can partner with private entities to bridge healthcare gaps and improve service delivery.
This initiative aligns with President Ferdinand R. Marcos Jr.’s Memorandum Circular No. 26, which encourages local government units to collaborate with private partners to enhance healthcare infrastructure. The development of the MRI facility in Bulacan is a practical implementation of this directive, demonstrating how public-private partnerships can lead to tangible improvements in healthcare access and delivery.
About Fischer Medical Ventures Ltd: Fischer Medical Ventures Limited is focused on driving innovation in healthcare through advanced medical imaging and diagnostics. The company offers a range of point-of-care diagnostic solutions, aiming to enhance accessibility and affordability in healthcare delivery. Fischer Medical Ventures is committed to leveraging its expertise and strategic partnerships to make a meaningful impact on healthcare systems globally.