St. Luke’s invests P18 billion for 3rd hospital

MANILA, Philippines — St. Luke’s Medical Center (SLMC), the newly accredited lead medical tourism facility in the country, is investing P18 billion to give birth to a new hospital in Parañaque.

The new hospital in Aseana City will be the third gem in SLMC’s portfolio, joining its two flagship facilities in Quezon City and Global City in Taguig.

“The Parañaque facility is going to be a 450-bed hospital, as big and as modern as Global (City hospital). The cost is P18 billion,” SLMC president and CEO Dennis Serrano said at a press conference late on Monday.

The construction of the multi-billion-peso facility is expected to start as early as October this year and will be fully operational by 2029.

“We do not see it as a cost. We see it as an investment in the future of St. Luke’s and also the future of the country. We see the needs of our people,” Serrano said.

Initially, SLMC envisioned expanding in Davao to bring top-tier healthcare closer to patients living in the Visayas and Mindanao.

However, it pivoted its strategy after seeing greater need in the country’s capital.

“When we open the doors of the hospital (in Parañaque), it will be a 2029 hospital. It will not be a 2024 hospital being opened in 2029. That is where the challenge comes up, and that is where investment comes in,” the SLMC executive noted.

Aside from expansion, SLMC is also spending as much as P6 billion to refurbish the old hospital building in Quezon City, with the goal of elevating it to match or even surpass the quality of its Taguig facility.

Serrano said the redevelopment of the old building is ongoing, with the opening expected as early as 2027.

“Stepping up to that quality also necessitates improving our facilities. That’s why we decided to tear down the old building and build a new one so that we can give better care and a better patient experience,” he said.

Medical tourism seal

All of SLMC’s investments in new facilities and equipment are part of efforts to further cement its position as the leading private healthcare institution in the country.

The Department of Tourism (DOT) has recognized SLMC as the lead facility in the Philippines for medical tourism, underscoring the hospital’s commitment to providing world-class medical services to locals and foreigners.

The accreditation highlights the institution’s facilities, comprehensive range of healthcare services, advanced medical technologies and highly skilled medical professionals.

“The environment and the expediency of getting the care that you want. That, I think, is the formula for creating a medical tourism facility,” said Serrano, who welcomed the recognition from the DOT.

Currently, around seven to 10 percent of the hospital’s gross revenues are coming from foreign patients, mostly tourists from the Pacific Islands.

Tourism Secretary Christina Frasco recognized the “indispensable role” of medical institutions like SLMC in bolstering the country’s mission of becoming a leading medical tourism hub in Asia.