Conglomerate Metro Pacific Investments Corporation has completed its investment of a 51-percent equity ownership of De Los Santos Medical Center Inc., the seventh hospital in the company’s growing portfolio.
MPIC said the acquisition will raise its total capacity to 1,944 beds, the largest private hospital group in the Philippines that includes the Riverside Medical Center in Bacolod City.
MPIC also has investments in Makati Medical Center, Davao Doctors Hospital, Cardinal Santos Medical Center, Our Lady of Lourdes Hospital and the Asian Hospital and Medical Center.
Founded in 1973 by the late Dr. Jose V. De Los Santos Sr., considered the Father of Philippine Orthopedics, the 15-bed DLSMC is a Level 3 teaching and training hospital along E. Rodriguez Sr. Blvd. in Quezon City.
Megaclinic, an ambulatory care center in Megamall, is one of its affiliates.
The announcement paves the way for a P250-million redevelopment plan and comes after approvals obtained from the Securities and Exchange Commission and the execution of various agreements, following the signing of an Investment Agreement last November.
Among the projects to be implemented are the renovation of the 39-year-old main hospital building that will increase and improve patients’ rooms, upgrade operating rooms and diagnostic centers, and the acquisition of new medical equipment.
The expansion plan also includes the provision of a Medical Arts Building to house the increasing number of accredited doctors.
“It is our commitment to give our patients the best in health care – affordable, accessible and of high quality,” said Raul Pagdanganan, the new president and chief executive officer of DLSMC.*PNA