Infrastructure holding firm Metro Pacific Investments Corp. (MPIC) has sealed its purchase of a 51-percent stake in Central Luzon Doctors’ Hospital (CLDH), the largest hospital in Tarlac.
With its acquisition of a controlling stake in the 200-bed CLDH, MPIC succeeded in adding an eighth hospital to its growing healthcare portfolio.
To date, the group of businessman Manuel V. Pangilinan now operates a total of 2,137 beds.
MPIC yesterday reported to the Philippine Stock Exchange that, with the acquisition now a done deal, a new four-story building would be added to the existing Tarlac healthcare facility.
Upon completion in early 2015, the new building will house the “most advanced” diagnostic imaging center in the province. It will have a 64-slice CT scan and digital X-ray machines. Later, a 1.5-Tesla MRI and digital mammography machine will be added.
“The building will also feature the best operating room and delivery room complex, a complete Neonatal Intensive Care Unit (NICU) and a modern ICU. The upper floor will provide much needed additional private hospital rooms, in standards never before seen in the province,” MPIC said.
CLDH also named Dr. Ferdinand Francis Cid to be the president effective Oct. 1.
Prior to this appointment, Cid was the dean of the San Beda College of Medicine. Also, he used to manage hospitals in Metro Manila and in the provinces. He obtained his degree in medicine from the University of the Philippines, and received his MBA (summa cum laude) from the San Beda Graduate School of Business.
Pangilinan’s group has been in talks with the family of Constante Quirino for the acquisition of CLDH in the last few years.
CLDH was incorporated in 1962 by a group of doctors who saw the need for an alternative private healthcare provider in the province of Tarlac. The hospital has an authorized capital base of P200 million consisting of two million shares, one million of which are preferred shares and the rest in common shares with a par value of P100 apiece. Subscribed capital consisted of 7,375 preferred shares and 9,947 common shares.
The seven other hospitals in the Pangilinan group’s portfolio are Makati Medical Center, Davao Doctors Hospital, Cardinal Santos Medical Center, Riverside Medical Center, Our Lady of Lourdes Hospital, Asian Hospital and Medical Center and E. Delos Santos Medical Center.