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Manila Bulletin devider Business devider The Stock Market devider Metro Pacific Health to buy 17 more hospitals

Metro Pacific Health to buy 17 more hospitals

Published Nov 10, 2023 05:38 am

TOKYO, Japan -- Metro Pacific Health Corporation (MPH), an affiliate of conglomerate Metro Pacific Investments Corporation (MPIC), is aiming to grow its network to 40 hospitals by 2025.

In a press briefing, MPIC Chief Finance, Risk and Sustainability Officer Chaye A. Cabal-Revilla said they have recently closed the deal for their 23rd hospital and have two more acquisitions in the pipeline for 2023.

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MPIC Chief Finance, Risk and Sustainability Officer Chaye A. Cabal-Revilla

This means the MPH is aiming to acquire 15 more hospitals in 2024 and 2025 to reach its target of 40. 

“We have acquired most the big ones so we are now targeting smaller hospitals, regionals,” she noted.

Cabal-Revilla said it will be faster to acquire smaller hospitals in the provinces since “it will be faster to do the due diligence…so we are looking at seven next year and eight in 2025.”

MPH’s focus remains mainly on acquisitions although it may also consider building new hospitals in areas where there are none, said Cabal-Revilla adding that modular hospitals may be built there.

MPH completed last October the acquisition of a 60.88 percent stake in Lucena United Doctors Inc. (LUDI), owner and operator of Lucena United Doctors Hospital and Medical Center (LUDHMC), following its launching of a Tender Offer for the balance 39.12 percent stake held by LUDI’s other shareholders.

LUDHMC is a Level 2, 95-bed hospital that has been serving the healthcare needs of Lucena, and neighboring towns and municipalities of the growing Quezon Province. 

The hospital was founded in 1981 by a group of nine doctor-families and sits on almost a hectare of land situated in Barangay Isabang, outside the congested city center, and closer to the thriving residential developments.

MPH Corporate Development Director Jose Noel C. de la Paz said, “our investment in LUDI has been in discussion for almost 10 years, and we are excited to finally complete this transaction and start working with the LUDHMC community to expand the hospital and upgrade its medical capabilities. 

“With this, it is our goal that residents of Quezon no longer need to go to Metro Manila for more advanced care,” said de la Paz.

LUDHMC becomes the 23rd hospital in the MPH network and the 5th hospital in Southern Luzon, following recent investments in Antipolo Doctors Hospital in Rizal and Medical Center Imus in Cavite, in addition to Calamba Medical Center and Los Baños Doctors Hospital in Laguna.

LUDHMC joins other premier hospitals within the MPH group including Makati Medical Center, Asian Hospital and Medical Center, Cardinal Santos Medical Center, Manila Doctors Hospital, De Los Santos Medical Center,

Commonwealth Hospital and Medical Center, Our Lady of Lourdes Hospital, Marikina Valley Medical Center, Jesus Delgado Memorial Hospital, Sacred Heart Hospital of Malolos, Central Luzon Doctors Hospital in Tarlac, Riverside Medical Center in Bacolod, Ramiro Community Hospital in Bohol, Davao Doctors Hospital in Davao, St. Elizabeth Hospital and Howard Hubbard Memorial Hospital in South Cotabato, Manuel J. Santos in Butuan and West Metro Medical Center in Zamboanga.
 

Related Tags

Metro Pacific Investments Corporation Chaye Cabal-Revilla Metro Pacific Health
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