MVP group eyes 2 more hospitals in 2013
MANILA, Philippines - Diversified conglomerate Metro Pacific Investments Corp. (MPIC) is set to complete the purchase of two more hospitals in the first half of 2013, a company executive said.
MPIC president and CEO Jose Ma. Lim told reporters that the company is on track in acquiring the target hospitals to boost the company's healthcare group.
"I believe we are on track. We are in the final stages of negotiations as of this moment," he said on Friday, May 24, during the company's annual stockholder's meeting.
The company is eyeing a 200-bed hospital somewhere in Central Luzon, particularly in the province of Tarlac, as one of the two purchases.
Lim refused to disclose the name of the healthcare institution since negotiations are still ongoing. "We will make a disclosure when we are ready," he added.
The other one is the 200-bed De Los Santos General Hospital, Inc., affiliated with academic institution Science and Technology Institute (STI), in Quezon City. MPIC is completing the required documents, Lim said.
MPIC is set to finalize its 51% stake agreement in the institution this May.
The diversified conglomerate announced in March that it is setting aside P3.5 billion for the new hospital acquisitions and increased ownership in the existing hospitals under its expanding network.
MPIC's hospital group currently holds the country's largest chain of private hospitals including Makati Medical Center, Cardinal Santos Medical Center in San Juan, Our Lady of Lourdes Hospitals in Sta. Mesa, Manila, Riverside Medical Center in Bacolod and Davao Doctors Hospital in Mindanao.
Once secured, the target hospitals will add to the company's hospital portfolio of over 2,000 beds. - Rappler.com