Lopezes take over Medical Services of America

The Lopez group has raised its stake in Philippine health care —an underinvested industry that was further strained by the COVID-19 pandemic—with a deal to buy the local unit of cardiopulmonary services and equipment provider Medical Services of America Inc. (MSA).

The deal was inked on Friday by First Philippine Holdings Corp. (FPH).

“MSA-Philippines represents a great addition to FPH’s growing portfolio of health-care businesses, which now include Asian Eye Institute and Philippine Impact Health. The services created from these various health-care businesses aim to improve the ecosystem of health-care providers in the country and, ultimately, the health and wellness of the Filipino population,” Francis Giles Puno, president of FPH, said in a press statement on Sunday.

MSA started in the United States in 1973 and entered the Philippines as a servicing company for four hospitals in 1978.

“From its humble beginnings, MSA-PH today works with over 50 partner-hospitals and clinics around the country through its 200 highly trained employees. With a strong and credible Philippine parent company, MSA-PH hopes to expand further its footprint in the Philippines and offer more healthcare solutions to our partner-hospitals,” said Aurora Dereja. MSA PH general manager.

SGV & Co. and Puno Law advised FPH on this transaction while MSA was advised by PwC Philippines and Cabrera & Co. INQ