The Securities and Exchange Commission has approved the P840 million initial public offering planned by Optimum Quality Health Ventures Inc. — a company operating under the name Camarin Doctors Hospital.

The Commission announced on Wednesday that En Banc green-lighted the registration statement of Optimum Quality Health Ventures covering 2,296,000 shares, subject to the company's compliance with certain remaining requirements.

Optimum Quality Health Ventures will offer 2,500 blocks composed of 100 shares each, with prices ranging from P200,000 to P400,000 per block. The shares will be traded over the counter through the hospital's internal staff. The company expects to net P840.70 million from the offer.

Proceeds will be used for loan payments, acquisition of medical equipment, payment of advances to stockholders, operating expenses, hospital construction, acquisition of hospital and office furniture, as well as payment of other professional fees.

Optimum Quality Health Ventures is completing its healthcare facility called the Camarin Doctors Hospital, located in Barangay 172, Camarin, Caloocan City worth P499.88 million.

The seven-story hospital will have a 105-bed capacity with a total floor area of 14,388 square meters on a 2,716-sq.m. property.

The intended market for the IPO will be medical practitioners and their relatives.

Physicians and other medical specialists who subscribe to the IPO will be qualified to practice at the hospital, subject to
pre-qualification procedures.