MANILA, Philippines – Metro Pacific Investments Corporation (MPIC), led by businessman Manuel Pangilinan, has completed its acquisition of 51% stake in Central Luzon Doctors’ Hospital (CLDH), the largest hospital in Tarlac City.
The purchase of the 200-bed tertiary hospital — a P187 million deal announced in June 2013 — brings the total bed capacity of MPIC to 2,137, the biggest chain in the country. (READ: Pangilinan-led MPIC now largest hospital operator in Philippines)
CLDH is MPIC’s 8th private hospital.
MPIC told the stock exchange on Thursday, October 24, it will start constructing a new 4-storey building that will house the following:
- most advanced diagnostic imaging center in the province
- a 64-slice CT scan
- digital x-ray machines
- a 1.5 Tesla MRI
- a digital mammography machine
- an operating room and delivery room complex
- a complete Neonatal Intensive Care Unit (NICU)
- a modern ICU
- more hospital rooms
The building will be completed in early 2015, MPIC said.
CLDH is a 200-bed tertiary hospital founded in 1962 by 15 pioneering doctors led by the late spouses Dr. Constante D. Quirino, Sr. and Mrs. Remedios P. Quirino, and Dr. Benjamin S. Paz.
MPIC’s hospital portfolio includes:
- Makati Medical Center (acquired in 2007)
- Davao Doctors Hospital (2008)
- Cardinal Santos Medical Center (2009)
- Riverside Medical Center (2010)
- Our Lady of Lourdes Hospital (2010)
- Asian Hospital (2011)
- De Los Santos Medical Center (June 2013)
MPIC also expressed interest in acquiring government-owned hospitals including the National Orthopedic Hospital.
It posted a core net profit of P722 million in 2012, up 29% from a year ago. The hospital business accounted for about 11% of MPIC’s core net profit of P6.5 billion. – Rappler.com