METRO Pacific Health Corp. (MPH) aims to add four hospitals to its network this year as part of its expansion across the country, a company official said.
“For this year, our battle cry is four more hospitals in 2024. We had 23 hospitals in 2023,” Metro Pacific Health Corp. Vice-Chairman and President Augusto P. Palisoc, Jr. said in a recent media briefing.
“We continue to always look for hospital investments. There are still many places in the Philippines,” he added.
MPH’s nationwide portfolio of healthcare facilities comprises 24 hospitals.
Mr. Palisoc said that MPH is nearing the completion of an investment agreement with San Francisco Doctors Hospital, Inc. in Agusan del Sur, which will become the 25th hospital in its network.
“It is not yet completed because this requires an investment of cash into the company. We need to get certain approvals for the capital increase, so we’re waiting for that before we can officially call it a completed acquisition,” Mr. Palisoc said.
“The deal can be completed this month or next month at the latest. We will end up with about 72% ownership of that hospital,” he added.
Once the proposed deal is completed, San Francisco Doctors Hospital will become MPH’s second hospital acquisition this year, alongside the purchase of a majority stake in UHBI-Parañaque Doctors Hospital, Inc. (PDH) in May.
Mr. Palisoc said that MPH remains focused on acquiring hospitals instead of building new ones to increase its network.
“Our success has been on the back of investing in existing hospitals and either turning them around if they’re not doing well, or growing them even if they’re doing well. That will remain our preferred thrust,” he said.
However, MPH is not ruling out the possibility of establishing its own hospitals, he added.
“This is not to say that we’re closing our doors on greenfield hospitals. I think that will come in due course. Maybe when we run out of hospitals to buy, then we’ll consider building some greenfield hospitals,” Mr. Palisoc said.
Some of MPH’s other hospitals within its network include Asian Hospital and Medical Center, Cardinal Santos Medical Center, Manila Doctors Hospital, Davao Doctors Hospital, and Riverside Medical Center.
MPH is the healthcare arm of Pangilinan-led conglomerate Metro Pacific Investments Corp. (MPIC).
MPIC is one of three key Philippine units of First Pacific, the others being Philex Mining Corp. and PLDT Inc.
Hastings Holdings Inc., a unit of the PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Revin Mikhael D. Ochave
