CinemaBravo

When Donna Gatus Mangulabnan founded Nephro Plus, it was a dream rooted in her experience as a nurse abroad. “My mission [is] magbigay ng quality healthcare sa Filipino” (My mission is to provide quality healthcare to Filipinos), she shared in an interview after their contract signing and media launch on April 10 in a hotel in Taguig City.

“No’ng nagtrabaho ako sa abroad—ang ganda sa America kasi e, tama? They are provided with everything. It’s been my dream pagdating sa Pilipinas yung kayang ibigay ng malalaking ospital… can also be accessible to every Filipino.”

(When I worked abroad—America was amazing, right? They are provided with everything. It’s been my dream that what big hospitals can offer can also be accessible to every Filipino).

For Mangulabnan, opening dialysis centers is not just about providing treatment—it’s about delivering care with dignity and heart. “Dream ko yung kahit hindi nila kayang magbayad ng sobrang mahal, feeling nila mamahalin yung mga dialysis center natin”

(My dream is that even if patients cannot afford expensive treatment, they would feel that our dialysis centers are first-class).

She also emphasizes compassion in her team, explaining, “Every day, in my journey, lagi kong sinasabi sa mga nurse ko na ‘Wag kayong basta nagpapa-dialysis lang, wag kayong nagti-treat lang, you put your heart on it.’ Kasi, to be honest, for you to be able to—kumbaga, hindi naman gumaling [kundi] magkaroon ng sustainability sa dialysis treatment, there should be love.”

(Every day, I always tell my nurses, ‘Don’t just perform dialysis, don’t just treat patients, you have to put your heart into it.’ Because honestly, to help patients not necessarily be cured but to sustain their dialysis treatment, there should be love).

Meanwhile, Jimmy Quach, Managing Partner of Conifer Capital, highlighted the urgency and opportunity they saw in partnering with Nephro Plus.

“There’s a huge, huge need to address CKD (Chronic Kidney Disease) in the Philippines. And fortunately, the Philippines’ government and PhilHealth are ready to address this need. And so, what we need [are] more dialysis centers,” he said. “We are partnering with Nephro Plus to just open up more and more dialysis centers in the Philippines. So, our capital will help Donna open up as many clinics as she can for the next few years.”

Conifer Capital invests US$7M in Nephro Plus to expand dialysis care

Nephro Plus Consultancy Inc. (“Nephro Plus”), the Philippines’ leading dialysis provider, has officially secured a US$7 million investment from Conifer Capital to accelerate the development of its public-private partnership (PPP) clinics and help address the country’s dialysis shortage. Rocket Equities, a Southeast Asia-focused M&A advisory firm, served as Nephro Plus’ exclusive financial advisor for the transaction.

This partnership unlocks a billion-dollar renal care opportunity in the Philippines, where systemic undercapacity meets soaring demand. With a shortfall of 8,000 dialysis stations and more than 100,000 patients urgently in need of treatment across a nation where CKD afflicts around 7 million Filipinos—the fourth leading cause of death—Nephro Plus is uniquely positioned to lead the charge. The market has been further fueled by major reforms from PhilHealth, with dialysis subsidies increasing from US$300 million in 2022 to US$1.3 billion by 2025.

Founded by Donna Gatus Mangulabnan, Nephro Plus operates a growing network of dialysis centers, delivering over 50,000 life-saving treatments every year. Beyond clinical services, the company has built a full-service dialysis ecosystem, offering consulting, operational support, and distribution of specialized dialysis equipment.

In the press release, Mangulabnan shared: “As a healthcare professional and a proud Filipino, my mission has always been to deliver world-class renal care in my home country. Every new clinic we open means thousands more patients receiving the care they need to live fuller, healthier lives. This is more than business; it’s a commitment to creating a healthier future for the Philippines.”

Conifer Capital’s Quach also emphasized in the release: “Nephro Plus isn’t just addressing a market gap—it’s solving a national crisis. This is a rare chance to scale a category leader in a sector where supply cannot keep pace with policy-driven demand. Our partnership positions Nephro Plus to lead the transformation of renal care in the Philippines, one of Asia’s most underserved yet fastest-growing dialysis markets.”