SEC approves maiden share sale of hospital in Caloocan

The Securities and exchange Commission (SEC) has approved the maiden public offering of Optimum Quality health Ventures Inc., which is currently building the Camarin Doctors hospital.

in its meeting on december 27, the SEC’S en banc has approved the registration statement of Optimum Quality covering 2.29 million shares.

Optimum Quality 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.

The company expects to net P840.7 million from the offer. Proceeds will be used 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.

Optimum Quality is in the middle of completing its healthcare facility called the Camarin doctors Hospital, located in Barangay 172 in Camarin, Caloocan City worth P499.88 million. The seven-story hospital will have a 105-bed capacity with a total floor area of 14,388 square meters on a 2,716-square meter property.

The intended market for the initial public offering will be medical practitioners and their relatives.

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, which the stockholder, his or her spouse, dependents and natural parents may avail of at the Camarin doctors Hospital.