20 Aug MFT group seeks to expand medical equipment, food/beverage businesses
By: VG Cabuag | August 20, 2018
VENTURE capital firm MFT Group Inc. on Monday said it is pursuing the expansion of its new medical equipment business as well as food and beverage businesses, both domestic and abroad.
MFT Group CEO Mica F. Tan said they see high demand for refurbished and new medical equipment as local companies, such as the Metro Pacific hospitals and the Ayala Group, are aggressive in their efforts to put up new medical facilities or refurbished existing ones.
MFT recently acquired Meihao Corp. of Hong Kong and have already established it as one of the largest private providers of medical equipment and supplies to hospitals and health institutions in the Philippines.
“We are the preferred supplier because we are a one-stop shop and they just give us their purchase orders of all the equipment they need and we can source it for them while other suppliers can only provide some of the equipment needed,” she said.
MFT Chief Operating Officer Enrique Eduardo F. Tan, Mica’s brother, said they now have a strong presence in the Visayas, through Meihao’s Cebu branch, and have also established operations in Mindanao (Davao) and Luzon.
He said Meihao sources its medical equipment from China, Japan, the US and Germany, adding that, depending on the budget of the buyer, these equipment, such as MRIs and x-ray machines, can be brand new or refurbished.
The company’s chief corporate development officer Parker Ong said Meihao generated sales of P500 million last year and are on track to at least double revenues to P1 billion this year.