PHINMA Education Holdings Inc., a subsidiary of the Del Rosario-led PHINMA Corporation, has acquired St. Jude College (SJC) Dasmariñas Cavite for P432 million.
PHINMA said the acquisition marked its entry into the Cavite market and added 3,000 students to its network, further solidifying its position as the largest private higher education network in Southeast Asia in terms of enrollment.
The transaction was completed in two stages. The first closing occurred on Dec. 6, 2024, with PHINMA Education acquiring a 94.62 percent ownership stake in SJC Dasmariñas Cavite for P85 million.
The second closing is scheduled for January 2025 and involves the acquisition of the campus land and buildings, and the payment of debt, totaling P344 million.
Established in 1968, SJC Dasmariñas Cavite offers tertiary and graduate programs, including Nursing, RadTech, Psychology, BSBA, BSA, BSED, BEED, Hospitality Management, and Computer Science, as well as MA in Nursing and MA in Hospital Administration.
This acquisition is PHINMA Education's tenth school in the Philippines and twelfth in its regional network.
“SJC Dasmariñas Cavite continues our thrust to make education as accessible as possible to underserved youth," said Happy A. Tan, PHINMA Education Country Chief-Philippines, adding that "our newest school expands PHINMA Education’s presence in Southern Luzon and nearby regions."
This acquisition is PHINMA Education's first since receiving an investment from leading private equity firm KKR.
"We will continue growing our network as we find more ways to reach learners that need education the most," said Chito B. Salazar, PHINMA Education President and CEO. "The more students we can serve, the more individuals and families we will uplift through education," he added.
PHINMA Education's network of schools in the Philippines includes PHINMA-Araullo University, PHINMA-Cagayan de Oro College, PHINMA-University of Iloilo, PHINMA-University of Pangasinan, PHINMA-Saint Jude College Manila, PHINMA-Saint Jude College Quezon City, PHINMA - Rizal College of Laguna, PHINMA-Union College of Laguna, and Southwestern University-PHINMA.