THE Securities and Exchange Commission (SEC) has approved the initial public offering (IPO) of Asia-Pacific Medical Center Bacolod, Inc., or APMC Bacolod.

In its March 22 meeting, the commission sitting en banc, resolved to render effective the Bacolod City-based medical facility’s offering of common shares worth up to P1 billion, subject to the compliance of remaining requirements.

“APMC Bacolod will offer to the public 3,600 blocks composed of 10 shares each, at an offer price ranging from P250,000 to P400,000 per block. The shares will be traded over the counter,” the SEC said in a media release on Wednesday.

The net proceeds from the offering is expected to amount to P997.52 million, which the company will use for the building and construction, loan payment, working capital, and other expenses related to its P2.6-billion medical facility in Bacolod.

APMC Bacolod will be a “multidisciplinary facility that will house medical and dental specialists who are subscribers to the capital stock of the corporation.” The intended and considered markets for its shares are mostly specialists and individuals related to these specialties, the company said in its prospectus.

APMC Bacolod is currently developing a state-of-the-art medical facility under Allied Care Experts Medical Center Bacolod, Inc.

In 2018, the deed of absolute sale was signed to acquire a lot for the center’s site located along Lacson St., beside the Ceres Northbound Terminal, in Brgy. Bata, Bacolod City.

APMC Bacolod said it aims to set up a Level 2 healthcare facility with an “organized, systematic, cost-effective, sympathetic and holistic approach to its goal in providing the best quality and justifiable medical and dental services to its clients and stakeholder.”

The new facility will provide services to residents of Bacolod City, nearby barangays and municipalities, and the whole province.

“Enormous task is expected and ahead of us but we are holding on to the vision of our founders and leaders, with dedication, faith in God and a burning passion to work together to cater to the people of Negros of their medical and health needs. Soon, there will rise a 250-bed capacity tertiary care medical center that is state of the art and of international standards, in the heart of Sugarlandia,” APMC Bacolod said in a statement.

In Western Visayas, there are three hospitals under the banner of Asia-Pacific Medical Center — in Aklan, Bacolod and Iloilo.

In June 2021, the SEC approved the initial public offering of Asia-Pacific Medical Center Aklan, Inc., covering 240,000 common shares.

APMC Aklan offered 35,420 shares, equivalent to 3,600 blocks or 10 shares per block at an offer price ranging from P250,000 to P350,000 per block. It expected to net P983 million from the offer.

APMC Aklan is currently constructing a seven-story, 216-bed health care facility worth P1.3 billion. The project is slated for completion by the second quarter of 2023.

The hospital will include doctors and dentists’ clinics, office area for the health maintenance organization, administration office, parking lots, commercial area, and waiting areas for patients. — Luisa Maria Jacinta C. Jocson