BIZ BUZZ: MVP in talks to buy hospital in Agusan
Some may think that brownfield opportunities in the hospital space may be getting scarce.
But while the hunt is more challenging these days, the group of tycoon Manuel V. Pangilinan is nonetheless still on the prowl for—and still gets to find—new acquisition opportunities.
Several reliable sources confirmed to Biz Buzz that the next acquisition could expand the Metro Pacific Health (MPH) network in Mindanao. Talks are underway to take over 100-bed San Francisco Doctors’ Hospital (SFDHI) in Agusan del Sur, potentially bringing to 25 the number of medical facilities in its portfolio.
Due diligence audit is now ongoing, and that deal closing may happen soon, our sources said.
READ: BIZ BUZZ: Why St. Luke’s dropped Davao
Based on its website, SFDHI started full operations in 2013. It occupies a two-story structure standing on an 8,000-square meter lot at Barangay Hubang, “geographically positioned in the noncoastal area of Caraga Region, along Maharlika Highway that links Luzon, Visayas and Mindanao.”
Article continues after this advertisementIts stockholders are medical specialists in different fields like surgery, internal medicine, pediatrics, obstetrics and gynecology, anesthesiology, radiology and pathology.
Article continues after this advertisementEarlier Bloomberg reports suggested that MPH is preparing anew for a long-delayed stock market debut, while private equity firm KKR, which had invested in the health-care chain along with Singaporean wealth fund GIC in 2019, is now considering to sell its stake.
To date, MPH has 24 hospitals with a total of 4,025 beds that serve more than four million patients a year.
It won’t hurt to further bulk up the portfolio ahead of a health-care pure-play maiden offering. —Doris Dumlao-Abadilla
Manulife PH has new COO
The flurry of appointments is not letting up in the Philippine corporate world with Manulife Philippines, the Philippine arm of leading global financial services provider Manulife, announcing the appointment of Rachel Marie “Rhea” Vizcarra as the company’s new chief operations officer (COO).
She has over 25 years of experience in the insurance industry, particularly in operations and business transformation.
READ: Manulife boosts funds for microentrepreneurs
Manulife said in a statement that under her leadership, the team will continue its key initiatives to transform and elevate the company’s claims experience; enhance operational performance and overall customer satisfaction efforts; and drive innovation. These include streamlining processes, managing risk, improving productivity and driving strategic initiatives to achieve sustainable growth and market leadership.
“We are thrilled to welcome Rhea Vizcarra to our senior leadership team,” said Rahul Hora, President and Chief Executive Officer, Manulife Philippines. “Her extensive experience and expertise in driving operational excellence amid a rapidly evolving insurance landscape, while solidifying health protection proposition and business transformation, will be instrumental in our efforts toward digital customer leadership. I am confident that she will deliver on our priorities and ongoing initiatives with our long-term strategic goals, as we further strengthen our position as one of the leading global life insurers in the Philippines.” —Tina Arceo-Dumlao INQ
