Walmex, Walmart’s unit in Mexico and Central America, said on Tuesday that it plans to increase spending in the region by 27% over last year, to around 27 billion pesos ($1.49 billion) in 2023.

Walmex said in a filing following an event with investors and analysts that just under half of the investment will go toward remodeling and maintenance on existing stores, while nearly 30% will go toward new stores and clubs.

The planned investments are an increase from the 21.3 billion pesos spent by Walmex in 2022. However, the company reported last month that last year’s capital expenditures were lower than expected because some projects were delayed due to supply chain disruptions.

About 12% of the investments in 2023 will be made to “expand and modernize the company’s supply chain,” Walmex said.

Walmex also announced Monday that it had received approval from Mexican authorities to acquire a Mexican electronic payments provider.

During the event, the company also announced the launch of a new health membership product that would make use of the region’s nearly 1,500 pharmacies and 500 doctor’s offices.

“For $30 pesos, our customers can have access to unlimited remote medical service 24/7, nutrition services, ambulance in case of emergency, discounts on specialists and… a 5% discount at our pharmacies and get consultation at our doctor’s offices,” said growth lead Beatriz Nunez.

Nunez added that, excluding pharmacy customers, the company provided health solutions to over 1 million patients last year.

“In 2023 we want to develop Health as a strong vertical, it is still in very early stages, but we know how relevant it is for our customers,” she added.

(Adapted from Latestly.com)