METRO Pacific
Health Corp. (MPH) said
on Tuesday that it had
invested and acquired a
70.4% stake in Medical
Center Imus (MCI) to expand its nationwide network of private hospitals.
“This is our first
hospital in the much-coveted Cavite Province which,
due to industrialization
and the influx of [overseas
Filipino worker] families
in the past decades, has
grown to be the country’s
second most populated
and second densest province,” said MPH President
Augusto P. Palisoc, Jr. in a
statement.
MCI is a 90-bed
Level 2 hospital that can
readily be expanded to
120 beds. It caters to the
cities of Imus and Bacoor
in Cavite. The hospital has
97 active specialists and
200 visiting doctors.
“It sits on more
than a hectare of property,
inclusive of about 6,000
[square meters] of vacant
land currently utilized for
surface parking,” the company said.
Jo Eileen Suzanne Ringler-Pama, incoming deputy chief executive officer of MPH, said
the company sees a lot of
potential for the hospital
due to its location within a
highly populated market.
“We are excited
to apply MPH’s group synergies to MCI and raise
patient experience to new
levels never before seen
in Cavite, by strengthening
management and investing in infrastructure improvements,” she added.
In the first quarter, the company more
than doubled its core net
income to P469 million,
while its revenues jumped
by 21% to P5.6 billion,
driven by an increase in
the number of patients.
MPH, a unit of
listed conglomerate Metro
Pacific Investments Corp.
(MPIC), claims to be the
Philippines’ largest private
hospital group, now with a
nationwide network of 21
hospitals.
It also has 24
outpatient care centers,
six provincial cancer radiotherapy centers, two allied
healthcare colleges, and a
central laboratory.
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
PLDT Beneficial Trust
Fund subsidiary MediaQuest Holdings, Inc., has
a majority stake in BusinessWorld through the
Philippine Star Group,
which it controls. BW
