iMEDGlobal expanding Phl operations

MANILA, Philippines - iMEDGlobal Corp., a firm engaged in providing consultancy as well as services and technology solutions for life sciences companies, is spending $3 million to expand its operations in the Philippines over the next two years.

“This $3 million is (for) everything we are planning in Manila toward people, infrastructure, process, capability…It could be more depending on the growth,” iMEDGlobal chairman and chief executive officer Prashanth Visweswaran said in an interview yesterday.

He said part of the amount will be utilized to build state-of-the-art facilities in Bonifacio Global City in Taguig City.

The firm which started operations in the country in January, has a facility located in the Fort Legend Tower in Taguig City.

Visweswaran said the firm also plans to increase its staff count to between 150 and 200 by the end of next year from 65 at present.

iMEDGlobal is expanding its Philippine operations due to the expected increase in demand from firms engaged in pharmaceutical, biotechnology, as well as consumer healthcare medicines.

Visweswaran said costs, as well as the need for innovation and to comply with regulations in the pharmaceutical and cosmetic or consumer markets are driving the demand for the firm’s services.

The Manila facility caters to local and foreign companies.

Visweswaran said the company also decided to expand its operations due to the available pool of pharmacists, physicians and doctors in the country.

“There is so much talent here,” he said.

While iMEDGlobal is already investing to expand its existing operations, the firm is open to forging partnerships to provide services in new areas of healthcare.

“We are actively looking for partners,” Visweswaran said.