Philab holdings chair steps down

PHILAB CEO Thomas Navasero

Local biotechnology firm Philab Holdings Corp. has announced that its executive chair Hector Thomas Navasero was stepping down from office due to health reasons.

Navasero was recently advised by his doctors to take an extended rest to give due attention to his health, Philab said in a statement yesterday.

“The board accepted his resignation, with deep regrets, and will soon announce his replacement,” the company added.

“Together with the rest of Philab, we will continue to work on innovating our roster of businesses to help save lives. I thank Tom’s vision and dedication in empowering the patient and making healthcare accessible, which remains the heart and soul of Philab,” said Philab president and chief executive Darlene Berberabe.

Navasero, who took over the leadership of Philab in 2013, facilitated the backdoor-listing of Philab through Alterra Capital Partners last year.

Through its subsidiary, Philab Industries Inc., Philab is one of the pioneer local companies providing life science and laboratory equipment and services. Philab Industries has been in business for almost 60 years. The company grew by supplying health and life science equipment and services to both public and private institutions.

Recently, Philab introduced an in-vitro diagnostics (IVD) early screening kit for dengue fever through the brand name LABit and is anticipating to expand its business in the field of in-vitro diagnostics and genomics.

It also intends to actively pursue merger-and-acquisition prospects in the healthcare sector for the balance of the year, targeting the pharmaceutical, diagnostics and genetics healthcare sectors.

The company said Navasero would continue to support his advocacy of curbing the spread of neglected tropical diseases (NTDs). “He will still oversee the international business developments of his projects MedX Pte. and Genomics, health permitting,” the company said. —DORIS DUMLAO-ABADILLA