Dr Rene Catan of Arthrologic
, Rene Catan
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When orthopedic surgeon Dr. Rene Catan introduced to his fellow doctors some years back his plan to manufacture a local joint replacement, it was dismissed as a "backyard project.
presented it to a group of physicians last week, they snapped up shares, even at P12,000 apiece, of the company he
built to bring his
idea to life.
won last year a nationwide competition for startup ideas conducted by the IdeaSpace Foundation
, the largest privately-backed technology incubator in the Philippines.
has a P500-million fund for five years, pooled together from the resources of Manuel V. Pangilinan's group of companies
project was borne out of frustration - of the increasing number of people who need joint replacements every year, only about two percent get it because the process is expensive.