MPIC to spend up to P3B to acquire 2 hospitals this year

0

THE hospitals group of Metro Pacific Investments Corp. (MPIC) is aiming to close two acquisitions this year, on the strength of P3 billion of investible money, the company president said.

Advertisements

“I have almost P3 billion of investible funds. The sooner we can deploy them the better,” Ogie Palisoc, president of the MPIC Hospital Group, said in an interview with reporters late last week.

MPIC is in talks with several hospitals in Metro Manila and in the provinces, Palisoc said. He did not disclose further details.

“At any point in time we are talking about five to 10 hospitals,” he said.

MPIC expects to buy two hospitals this year as part of a yearly target until an additional 2,000-bed capacity is achieved.

MPIC has a chain of private hospitals with a combined capacity of 2,224 beds.

Palisoc said MPIC will most likely be acquiring 200-bed hospitals this year. The group is targeting to close one deal by the first half, another toward the end of the year.

As for MPIC clinics, Palisoc said they are hoping to expand. The group is still on the lookout for acquisition opportunities.

MPIC has one mall-based clinic.

Palisoc said the hospital business is quite stable despite contributing just three percent to the conglomerate’s profit.

“The hospital is quite a stable business, because people get sick. And now there is an increasing interest in wellness,” he said.

MPIC holds stakes in the Makati Medical Center, Asian Hospital & Medical Center, Cardinal Santos Medical Center, Our Lady of Lourdes Hospital, De Los Santos Medical Center, Davao Doctors Hospital, Riverside Medical Center, and Central Luzon Doctors.

Share.
loading...
Loading...

Please follow our commenting guidelines.

Comments are closed.