MPIC eyes 2 more hospital deals

Metro Pacific Investments Corp. (MPIC), a listed infrastructure company led by businessman Manuel V. Pangilinan, is planning to close additional hospital deals in Metro Manila and Central Luzon over the next few months.

Its hospital group, the country’s largest privately run chain of healthcare facilities, is in the “final stages” of acquiring De Los Santos Medical Center in Quezon City, MPIC president Jose Ma. K. Lim told reporters on Friday.

MPIC is also in negotiations to buy a hospital in Tarlac province, Augusto Palisco Jr., head of MPIC’s hospital group, said separately.

The two health-care facilities will increase the company’s hospital business by 300 beds to 2,100 beds. It earlier said the target was to hit a total of 3,000 beds.

The Tarlac facility would extend MPIC’s reach in Luzon. It is also targeting areas in the Visayas and Northern Mindanao.

The hospital group, despite its rapid growth, remains a relatively small contributor to MPIC’s bottom line at six percent of net operating income in the first quarter. MPIC’s other units are Maynilad Water Services Inc., power distributor Manila Electric Co. and North Luzon Expressway.

The hospital portfolio includes six full-service hospitals: Makati Medical Center, Cardinal Santos Medical Center, Our Lady of Lourdes Hospital and Asian Hospital in Metro Manila; Riverside Medical Center in Bacolod; and Davao Doctors Hospital in Mindanao.

The unit also plans to expand organically with Asian Hospital set to add 200 beds upon the completion of a new tower.

It intends to spend P1.5 billion this year for new equipment and the upgrade of its infrastructure, MPIC’s annual report showed.

MPIC expects revenue to hit P14 billion by 2015. It booked P11.33 billion last year, up by more than 30 percent 2011. Miguel R. Camus