LBP extends P50-M loan to teleradiology provider

MANILA, Philippines - The Land Bank of the Philippines (LBP) has approved a loan facility worth P50 million for diagnostics and teleradiology provider Mediarchives Philippines Inc. (MAPI). The loan facility is a follow up to the previous loan obtained by MAPI amounting P25 million. MAPI’s teleradiology-driven diagnostics services enable patients in remote areas with shortage of doctors to receive diagnosis or readings on their X-rays or CT scans with the help of off-site radiologist via teleconference or the Internet. LBP Leasing senior officer Manny Lopez said the loan could encourage other players in the healthcare/hospital industry to help government by exploring partnership with local government units (LGUs) and invest in rural health sector. MAPI chief executive Armando Quintong said proceeds from the new loan would be used to expand and upgrade their existing services in at least six hospitals in the country.