CEBU CITY, PHILIPPINES – A Cebu-based medical and septic waste treatment firm has secured P120 million loan from the Development Bank of the Philippines (DBP) for its expansion in Cebu, Iloilo, Palawan, Bacolod, and Davao.
Julieto Pogoy, president of Pollution Abatement Systems Specialists Inc. (PASSI) signed the memorandum of agreement for the P120 million loan with officials of the DBP regional office in Cebu. The signing was also witnessed by PASSI board chairman Antonio Tompar.
“There is so much demand in the Philippines for hospital waste treatment facilities,” said Pogoy, who pointed to the increasing number of hospitals in the country, as well as the importance of treating hospital wastes.
Pogoy said that majority of the loan budget will be used to fund the expansion of medical waste treatment facility in Cebu, as well as their branches in Iloilo, Palawan and upcoming opening of Bacolod and Davao.
Hospital wastes, if not treated, contains potentially harmful microorganisms that can infect hospital patients, health workers, and the general public.
The Department of Health (DOH) strict implementation on the Republic Act, has pushed the double-digit growth of the company and prompted the company to expand, as major hospitals and clinics in Cebu and other major cities in the country already treating their solid and hazardous wastes in the proper facility.
PASSI was established initially to provide Cebu the right facility to treat hazardous solid wastes specifically that it is positioning to attract international patients, or medical tourists.
“PASSI is a result of the outcry of hospital owners of Cebu for a proper medical waste treatment facility. We continue to expand because a lot of areas still don’t have medical waste treatment facilities,” Tompar said.
Its serves 288 medical institutions, including hospitals, laboratories, as well as funeral parlors, or a market share of 98 percent in the whole province of Cebu. – BusinessNewsAsia.com