August 26, 2024 | 12:00am
MANILA, Philippines — Metro Pacific Health Corp. (MPH), the largest private hospital network in the country, is looking to acquire two more hospitals before the year ends as part of its continuing plan to bolster its network nationwide.
MPH president Augusto Palisoc Jr. said the company is on the lookout for more hospital investments across the country with the goal of ending the year with a nationwide portfolio of 27 healthcare facilities.
“We started 2023 with 19 hospitals. Our battle cry last year is 23 in 2023 so we made four acquisitions. From 19, it became 23. We achieved that objective. For this year, our battle cry is four more in 2024,” Palisoc said.
Last May, MPH announced the acquisition of a majority stake in UHBI-Parañaque Doctors Hospital Inc., becoming the company’s 10th hospital in Metro Manila and its 24th hospital nationwide.
Parañaque Doctors Hospital is a 94-bed Level 2 hospital along Doña Soledad Avenue, Better Living Subdivision in Parañaque City.
The company is also adding the 25th hospital in its growing network with the acquisition of a 72-percent stake in San Francisco Doctors Hospital Inc. in Agusan del Sur.
“We signed an investment agreement for our 25th hospital, the one in Agusan del Sur. But technically, it’s not yet completed because this required an investment of cash into the company,” Palisoc said.
“And 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,” he said.
Palisoc said completion of the acquisition is expected this month or next at the latest.
With two hospitals added to its network so far this year, he said MPH still has work to do for the two potential acquisitions for 2024.
“Rest assured that we continue to always look for hospital investments. There are still many places in the Philippines that the hospital group is not yet present. So we’ll keep on looking,” Palisoc said.
Under the leadership of its chairman Manuel V. Pangilinan, MPH aims to improve the delivery of quality and affordable health care throughout the country.
From its first investment in Makati Medical Center in 2007, MPH, which is part of Metro Pacific Investments Corp., has since grown to be the largest private hospital group in the country.
Other premier hospital names in its portfolio include Asian Hospital and Medical Center, Cardinal Santos Medical Center, Manila Doctors Hospital, Davao Doctors Hospital and Riverside Medical Center in Bacolod.
“Our success, I think, has been on the back of basically investing in existing hospitals and either turning them around if they’re not doing well or growing them even if they’re doing well. So I think that will remain to be our preferred thrust,” Palisoc said.
“That is not to say that we’re closing our doors on greenfields. But I think that will come in due course. Maybe when we run out of hospitals to buy then we’ll take a look at doing some greenfields,” he said.
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