The hospital group of infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) is looking to close more acquisition deals within the two remaining quarters of this year.
Augusto Palisoc Jr., president and chief executive officer of MPIC Hospital Group, indicated that 2013 could potentially become a record year for the group as it tries to close more hospital acquisitions than it did in the previous years.
“Ambitious target is maybe one or two more hospitals. Historically, we’ve only closed about one hospital a year, except for 2010 when we closed two,” he said.
“This year, there’s a good chance that we will close two, and so we’re trying to make it three or four but that’s quite ambitious,” Palisoc added.
As of now, Palisoc said that the group is considering “to talk to many parties but none of these discussions are imminent at the moment.”
Meanwhile, in its bid to expand its recently acquired De Los Santos Medical Center (DLMSC), Palisoc said that the group has signed a 20-year leasing agreement with a relatively large property beside it.
“We already entered into a lease agreement with the property next to it, a 5,000-square meter property with a seven-storey building next door to De Los Santos. That will form a major part of the expansion of De Los Santos,” he said.
“That will be a key turnaround strategy for that hospital,” Palisoc added.
He even mentioned that the group is looking to grow its none-hospital-based business after acquiring a diagnostic center alongside DLMSC.
“Together with De Los Santos is Mega Clinic, and Mega Clinic is our first investment in a none-hospital-based diagnostic center, which seems to be getting more patronage at the moment. We see that as a growth area. We are looking at that. We want to understand that business and possibly grow it as well,” Palisoc further said.
The group is also looking to complete its investment agreement with Central Luzon Doctors Hospital in September. The group secured the investment deal with the Tarlac-based hospital in late June.
Madelaine B. Miraflor