MPIC invests P250 million for majority stake in Los Baños hospital

MANILA, Philippines — Metro Pacific Investments Corp. (MPIC), the listed tollways and infrastructure conglomerate of tycoon of Manuel V. Pangilinan, is expanding its hospital portfolio.

Metro Pacific Hospital Holdings Inc. (MPHHI),  the hospital arm of MPIC, is acquiring a 51 percent stake in Los Baños Doctors Hospital and Medical Center Inc. (LBDH) in Laguna.

MPHHI signed an “agreement with LBDH and its founders to invest a total of P250 million in common and preferred shares in the hospital for a 51 percent equity interest in the expanded capital of the company.”

Augusto Palisoc Jr., president and CEO of MPHHI, said the company is excited to work with LBDH and its team in expanding and growing their service capabilities so that Los Baños and its adjacent communities will always have accessible quality healthcare.

The transaction is aligned with MPHHI’s efforts to expand its reach across the healthcare industry, he said.

LBDH is an 80-bed level 2 hospital located along Lopez Avenue, Batong Malake, Los Baños, Laguna which was established in 1975 as the first hospital in Los Baños.

It serves patients not only from Los Baños but from adjacent areas of Calamba City and the municipality of Bay. LBDH recently completed the construction of an eight-story building which will add up to 26 new rooms and 44 additional doctors’ clinics, expanding the hospital’s ability to cater to the growing healthcare needs of the community.

Leslie Reyes, director-founder and former chairman of LBDH, said they invited MPIC as part of their expansion.

With the acquisition of LBDH, MPIC now has 16 hospitals in its portfolio, covering seven provincial hospitals and seven other hospitals in Metro Manila.

These are Davao Doctors Hospital, Riverside Medical Center in Bacolod, Central Luzon Doctors’ Hospital in Tarlac, West Metro Medical Center in Zamboanga, Sacred Heart Hospital in Malolos, Bulacan, St. Elizabeth Hospital in General Santos City and Manuel J. Santos Hospital in Butuan.

The hospitals in Metro Manila are Asian Hospital, Cardinal Santos Medical Center, Manila Doctors Hospital, De Los Santos Medical Center, Our Lady of Lourdes Hospital, Marikina Valley Medical Center and Jesus Delgado Memorial Hospital.

Completing MPHHI’s portfolio are two healthcare colleges namely Davao Doctors College and Riverside College in Bacolod, five primary care clinics and four cancer care radiotherapy centers through joint ventures with several hospitals.