On November 21, 1995, ASALUS Corporation was registered with the Securities and Exchange Commission as a health maintenance organization (HMO). Armed with a seed capital of only Php 1.875 million, ASALUS immediately commenced operation at the Skyland Plaza condominium located along Sen. Gil J. Puyat Avenue.
From a captive market of about 4,000 employees in 1995, ASALUS's client base soared to more than 100,000 enrollees in 2001 or equivalent to a 30-fold increase over a period of only 6 years. As of the most recent count, ASALUS' client base has surpassed the 200,000 mark.
Consequently, from a mere Php 0.210 million in 1995, earned premium revenues surged to Php 395 million as of end-2001, to catapult ASALUS into the top five of the HMO industry. To date, ASALUS has held on to this industry ranking.
From only a handful in 1995, manpower complement has risen to more than 20 officers and over 300 staff personnel whereas total assets expanded vastly to stand at nearly Php 200 million as of end-2003.
From Php 1.875 million in 1995, paid-up capital jumped to Php 50.0 million as of end-1998. Heretofore, capital base has remained at this level.
In June 2003, the Company adopted the "IntelliCare" brand name for its HMO business to aptly reflect the expanding scope of business operations, as well as the future thrusts of its corporate investments, within the ASALUS Group of Companies.