The health-care arm of tycoon Manuel Pangilinan-led Metro Pacific Investments Corp. (MPIC) is hoping to complete the acquisition of its 25th hospital by next month, with the group eyeing to take over two more health facilities this year.
Metro Pacific Health (MPH) vice chair and president Augusto Palisoc Jr. told reporters last week they were seeking approvals to increase the capital of San Francisco Doctors Hospital Inc.
Once this is finalized, MPH will own 72 percent of the 100-bed hospital in Agusan del Sur.
The group so far has 24 hospitals in its growing nationwide portfolio of health-care facilities.
Its latest addition is the 94-bed Parañaque Doctors Hospital, MPH’s 10th facility in the capital region.
The 21-year-old hospital sits within a 6,000-square meter land along Doña Solenad Avenue, with a pool of over 200 active doctors.
MPH said capacity could be expanded to 150 beds through a new wing.
MPIC began its foray into health care in 2007 through MPH, which made a significant investment in Makati Medical Center that year.
Other hospitals where MPH has an ownership stake are Asian Hospital and Medical Center, Cardinal Santos Medical Center and Manila Doctors Hospital, among others, in Metro Manila.
Elsewhere, MPIC also operates Riverside Medical Center (Bacolod City), Davao Doctors Hospital (Davao City), Calamba Medical Center (Calamba City) and St. Elizabeth Hospital (General Santos City).
Currently in talks
The group is also in talks with two more hospitals for acquisition, although MPH did not identify the facilities.
“We continue to always look for hospital investments because there are still many places in the Philippines where the [MPH] Group is not yet present,” Palisoc said.
He noted building their own was not completely out of the picture.
“Our success has been on the back of investing in existing hospitals … I think that will remain to be our preferred thrust, but this is not to say that we’re closing our doors on greenfield,” he said.
According to MPIC chief finance officer Chaye Cabal-Revilla, MPH accounted for P110 million of the parent firm’s earnings in the first half of the year.
MPIC booked a 23-percent surge in six-month net income to P12.5 billion on the improved performance of its subsidiaries, particularly its core businesses, such as power under distributor Manila Electric Co.
This already represents 62.8 percent of MPIC’s record P19.9-billion full-year earnings in 2023. INQ