Healthway Medical Network (HMN), the hospital and clinic arm of Ayala Healthcare Holdings Inc. (AC Health) teamed up with Far Eastern University-Dr. Nicanor Reyes Medical Foundation Inc. (FEU-NRMF) to manage the latter’s 300-bed university hospital in Quezon City.
Under the partnership, HMN will manage the hospital operations on behalf of FEU-NRMF for a period of 24 months starting January 2024. This will be followed by the full turnover of hospital operations through a 35-year lease agreement.
Both agreements will be effective upon fulfillment of certain conditions, AC Health said in a statement. HMN will have oversight over clinical, financial and administrative operations of the hospital.
The interim management period is expected to facilitate the smooth transition of FEU-NRMF operations to HMN.
The partnership will allow HMN and FEU-NRMF to leverage each other’s strengths to deliver better patient care.
“We are thrilled to welcome FEU-NRMF in our growing network of hospitals and clinics. By leveraging FEU-NRMF’s technical and academic expertise, we hope to deliver a better healthcare experience to our patients,” said AC Health president and chief executive Paolo Borromeo.
FEU-NRMF president and chief operating officer Juan Enrique Reyes said the increasing competition in the hospital industry prompted the company to explore collaborating with the Ayala Group.
“Seeing how they have built a vertically integrated system of hospitals in less than 10 years, supported by a robust network of mall-based and corporate clinics, pharmacies, and digital health has been remarkable. We look forward to learning from the best and tapping their operational expertise to provide better opportunities for our patients, people, and students,” Reyes said.
Founded in 1955, FEU-NRMF Medical Center was originally established in Morayta, Manila to serve the healthcare needs of the community and provide training for the students of the Institutes of Medicine and Nursing.
The hospital relocated to Fairview, Quezon City in 1999. It is the only Level 3 hospital in its district, offering seven fellowship and 10 residency training programs to complement its roster of degree programs in Medicine, Nursing, Pharmacy, Radiologic Technology, Medical Laboratory Science, Physical Therapy and Respiratory Therapy.
