Phinma acquires St. Jude College

MANILA, Philippines — Phinma Education Holdings Inc. (PEHI), a wholly-owned subsidiary of Phinma Corp.,  is adding another school to its education portfolio with the acquisition of St. Jude College for P370.2 million.

In a disclosure to the Philippine Stock Exchange (PSE), Phinma signed a share purchase agreement to acquire 57,347 shares in St. Jude College Inc.

The shares represent 95.6 percent of the issued and outstanding shares of the school.

PEHI said the investment would strengthen the group’s presence in education.

“The investment of Phinma Education in St. Jude College will strengthen its position in the education industry. With the addition of St. Jude College, the enrollment of Phinma Education’s schools will grow by 3,050 students and will consequently increase Phinma Education revenues and bottomline.

This investment also represents Phinma Education’s entry into the mid-income education market in Metro Manila,” Phinma said.

St. Jude College, which is located in Metro Manila, started as a School of Nursing in 1968 and is today a full service educational institution serving 3,050 students in basic education, college, and graduate school programs.

Known mainly for tertiary allied health science courses, St. Jude also offers programs in business, education, information technology, and hospitality.

The group’s education arm seeks to create opportunities in the Philippines to have accessible, national class quality education.

To fulfill this vision, Phinma Education aims to create graduates that are competitive in the global market, while at the same time, empowering them and their families to live a life that matters.

Phinma’s portfolio of schools include Araullo University in Nueva Ecija, Cagayan de Oro College in Misamis Oriental, University of Pangasinan in Pangasinan, University of Iloilo in Iloilo.

The Phinma Group has interests in power, education, hotels, real estate, consultancy and steel products.