ST. LUKE’S Medical Center (SLMC) announced on Monday an P18-billion investment in its Parañaque hospital, with groundbreaking scheduled for October.
This expansion reinforces SLMC’s position as the Philippines’ premier destination for medical tourism, SLMC President and Chief Executive Officer Dennis P. Serrano said during a briefing.
“The Parañaque facility is going to be a 450-bed hospital, as big and modern as the Global City unit, and the cost is P18 billion,” he added.
He said that medical tourism will be a key component of SLMC’s third hospital, slated to commence operations in 2029.
The Department of Tourism (DoT) has recognized SLMC as the country’s foremost facility for medical tourism.
“Our revenue from foreign patients or international patients will come up around 7% to 10%, which translates into billions,” Mr. Serrano said referring to the gross revenue of its two hospitals in Quezon City and Global City.
SLMC anticipates that revenue from international patients will constitute approximately 7% to 10% of its total gross revenue, translating to a figure in the billions, as noted by Mr. Serrano. This pertains to the aggregate revenue generated by SLMC’s two hospitals located in Quezon City and Bonifacio Global City, Taguig City.
Tourism Secretary Maria Esperanza Christina G. Frasco said the government aims to position the Philippines as a leading health and wellness tourism destination in Asia and beyond.
“We aim to secure our place in the global medical tourism market, which is currently valued at over $63.89 billion and expected to reach over $207 billion by 2030,” she said during an event on July 15.
In 2023, the Tourism department recorded over 30,000 arrivals for medical tourism, contributing an estimated $15 billion to $25 billion in receipts.
Meanwhile, SLMC Quezon City is undergoing renovation, according to Mr. Serrano. — Aubrey Rose A. Inosante
