iCare has officially risen to the number three position among health maintenance organizations (HMOs) in the Philippines. This milestone follows a comprehensive transformation initiative led by Singapore-based Value-Based Healthcare, which acquired majority ownership of the company in 2023.
The new ranking is highlighted in the Insurance Commission’s latest report, “Performance of the HMO Industry as of 31 March 2026”, released this May.
Founded in 1991, iCare’s rapid ascent is anchored on a unique corporate DNA that blends Singaporean operational efficiency with compassionate Filipino service. Since the acquisition, extensive investments in technology, data-driven systems, and talent have propelled the company forward.
“Our leap to the top three is a testament to what happens when you combine world-class operational discipline with deeply empathetic, patient-first care. The milestone validates our commitment to building a sustainable, future-ready healthcare ecosystem that Filipinos can rely on,” says Geronimo V. Francisco, President and CEO of iCare.
Supporting this market growth is a massive expansion of iCare’s nationwide footprint. The company now ranks number one in the Philippines in terms of accredited hospitals and clinics, a position independently verified by a leading US-based international insurance and healthcare broker.
To sustain this momentum, iCare has aggressively scaled its internal capacity. Its workforce has grown exponentially from 151 employees in 2023 to over a thousand today. The company recently expanded its operational hubs in Makati to accommodate its growing call center, provider network, and claims processing teams, and has disclosed plans to transition to a significantly larger corporate headquarters soon.
Parallel to its infrastructure growth, iCare has institutionalized a dedicated Customer Experience (CX) team. This specialized unit strictly monitors service level agreements, turnaround times, and claims efficiency to ensure seamless provider coordination and responsiveness to member support. .
“For us, scale is meaningless without service excellence. Reaching no. 3 is just the beginning. As we prepare to move into our new headquarters, our focus remains on scaling sustainably, innovating our digital touchpoints, and ensuring that every single member experiences genuine, frictionless healthcare,” Francisco furthered.
