JW Cabangon new FortuneCare chairman

Jesus Wilfredo Cabangon has been elected chairman of the board of directors of Fortune Medicare Inc., or FortuneCare, a leading member of the health maintenance organization (HMO) industry.

Cabangon heads a new team of management executives who will spearhead moves to enhance the delivery of healthcare to FortuneCare’s thousands of card-holding members.

It has more than 20 branches in Metro Manila and key cities all over the Philippines.

The appointment of Cabangon as chairman of FortuneCare comes at a time when the regulation and supervision of HMOs has just been transferred from the Department of Health to the Insurance Commission.

An executive order directing the transfer was issued by President Aquino late last year in order to improve the supervision of HMO companies.

As chairman, Cabangon will be in charge of setting the policies and directions that will enable FortuneCare to undertake the transfer to the new regulatory framework smoothly.

Other members of the new FortuneCare management team to assist Cabangon are Arnold Cabangon, vice chairman; Dr. Alfonso Sahagun, president and chief operating officer; Leonora Zafra, chief finance officer; Dr. Erwin Fabros, senior vice president for medical affairs and medical director; Ma. Victoria Madarang, officer in charge, marketing and sales; Carlos Baviera, head, treasury; Pagasa Fausto, head, claims; and Vilma Cruz, head, credit and collection.

FortuneCare is a member of the Fortune Insurance Group of Companies founded by the late Ambassador Antonio Cabangon Chua, chairman emeritus.

The other companies in the group are Fortune Life Insurance Co. and Fortune General Insurance Corp.