The Board of Investments (BoI) gave its nod on a P603-million hospital project in Tuguegarao City, which is seen to increase the hospital capacity in the Cagayan Valley region amid the pandemic.
In a news statement issued on Friday, the attached agency of the Department of Trade and Industry (DTI) approved the application of Cagayan United Doctors Medical Center (CUDMC) as a new operator of General Hospital Level 2.
The hospital, whose project is categorized as health care and disaster risk reduction management service, can avail of tax and other incentives under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act and the current Investment Priorities Plan (IPP).
“Due to the stark concern on the spike of Covid-19 cases coupled with the limited hospital care capacity for patients, the project will augment the hospital capacity in Region 2 to cater for Covid-19 patients with critical symptoms,” DTI Undersecretary and BoI Managing Head Ceferino Rodolfo said.
BOI noted that the hospital project is part of the government and private sector’s initiative of expanding health-care facilities.
Rodolfo said that the “gains of such undertaking are doubling investments in the area of medical equipment and devices, manufacturing of medical supplies and pharmaceuticals, research and development, life sciences and innovation.”
Citing data from the Department of Health, BOI said the Cagayan Valley region has an occupancy rate of 78.8 percent for Covid-19 patients. The project will add 100 beds, which will make the region compliant with the requirement for hospital licensing under Level 2.
The 5-story hospital project aims to cater to Isabela and Kalinga-Apayao areas as well, in addition to Cagayan province.
It will have 18 critical care unit beds with five-bed intermediate care unit. The project also covers the construction of “eight negative pressure isolation rooms, a laminar flow system an operating room, and a healing garden.”
The hospital will be offering “extensive, comprehensive and specialized health care” given its laboratory and diagnostic services, BOI added.
The establishment is expected to hire some 652 employees. It is expected to “infuse P75 million contribution to household income” in the first four years of commercial operations.
The hospital also seeks to invest in digital health technologies, such as computing platforms, connectivity, health care software solutions and health information technology.