The Securities and Exchange Commission (SEC) has approved the planned initial public offering of Optimum Quality Health Ventures Inc. amounting to P840.7 million.
Optimum Quality Health Ventures is completing a 105-bed capacity healthcare facility called the Camarin Doctors Hospital in Caloocan City. The seven-story building is estimated to cost almost P500 million.
Proceeds from the offer will be used by the company for loan payments, acquisition of medical equipment, payment of advances to stockholders, operating expenses, hospital construction, acquisition of hospital and office furniture, as well as payment of other professional fees.
The intended market for the IPO will be medical practitioners and their relatives.
Optimum Quality Health Ventures will offer 2,500 blocks composed of 100 shares each, with a price ranging from P200,000 to P400,000 per block.
The shares will be traded over the counter through the hospital’s internal staff.
Physicians and other medical specialists who subscribe to the IPO will be qualified to practice at the hospital, subject to pre-qualification procedures.
Subscribers to the IPO will also be given benefits and privileges such as discounts on medical and dental services. These benefits can be extended by the stockholder to his/her spouse, dependents and natural parents at the Camarin Doctors Hospital.