By Roderick T. dela Cruz

The Board of Investments yesterday said it granted fiscal incentives to a P340-million healthcare and wellness facility classified as a pioneer project.

Approved was the Medical City Wellness and Aesthetic Center, to be operated by the Professional Services Inc., within the Medical City premises in Ortigas Ave., Pasig City.

Once completed by next year, the facility will employ 50 persons, according to the Board of Investments.

Major stockholders at Professional Services Inc. are Benpres Holdings Corp., which owns 18 percent of the company?s shares; Insular Life Assurance Co. Ltd., 8 percent; Splash Holdings Inc., 7 percent; and Isabela Cultural Corp., 7 percent.

Other stockholders are the Superior General of the RVM, United Laboratories Inc., San Miguel Corp. and Mercury Group of Companies.

The new investment will complement the line of services offered by Medical City in giving treatments with first-class hotel-like ambiance.

Under the project, two new floors, the sixth and seventh, will be constructed covering an additional 2,291 square meters nestled above the existing Podium Building.

The sixth floor will cater to outpatients while the seventh level will have 14 rooms for in-patients.

?This incremental facility is another shot-in-the-arm for Medical City to be at par with the best medical tourist destinations in Asia,? documents showed.