Businessman Manuel V. Pangilinan-led Metro Pacific group has added the 13th hospital to its growing healthcare network with the acquisition of a controlling stake in the Dr. Jesus C. Delgado Memorial Hospital (JDMH) in Kamuning Road, Quezon City.
In a disclosure to the Philippine Stock Exchange on Tuesday, Metro Pacific Investments Corp. said that its healthcare investment holding unit Metro Pacific Hospital Holdings Inc. (MPHHI) had signed a deal to infuse around P133.5 million in cash into Delgado Clinic Inc. (DCI), owner and operator of JDHM.
The investment in DCI will be done through a subscription to preferred shares representing around 65 percent of the holding firm’s total expanded capital stock.
Established in 1948 as The Delgado Clinic, the facility expanded through the years and was later renamed Dr. Jesus C. Delgado Memorial Hospital in memory of its founder, Dr. Jesus C. Delgado, a pioneering medical board topnotcher from the University of Santo Tomas. Its medical staff consists of over 1,000 active and visiting board-certified physicians, with a wide range of clinical specialties.
“The cash infusion from MPHHI will enable the 68-year-old tertiary general hospital JDMH to upgrade its equipment and facilities, and expand its capacity to serve the community,” the Metro Pacific group disclosure said.