Saturday, June 28, 2008 [ philstar.com ]
DAVAO CITY — Metro Pacific Investments Corp. (MPIC), the local flagship of Hong Kong conglomerate First Pacific Co. Ltd., has taken a minority stake in Davao Doctors Hospital after it acquired 34 percent of the issued share capital of the hospital for P498 million.
In a statement, the hospital’s officers and administrators said they welcome the entry of MPIC into the board and management of DDH starting the first week of July.
The DDH officers said the entry of MPIC would bring managerial expertise that would make DDH and its subsidiaries more competitive in a rapidly changing business climate.
Established in 1966, DDH is a major private hospital in this part of the country. It has been noted for leading the medical industry in Mindanao with its modern equipment and facilities.
DDH boasts of being a leading medical center patronized even by those from Indonesia and Malaysia, aside by those coming from different parts of Mindanao.
With the entry of MPIC, DDH likewise expects its subsidiary, Davao Doctors Colleges, to also enhance its academic standing among schools and colleges in the South. The college has more than 4,000 students taking up various courses, including nursing, medical technology, physical therapy, general education, among others.
Aside from DDH, MPIC also earlier acquired shares in the Makati Medical Center.
MPIC is poised to start a network of medical facilities and hospitals in the country with its initial investments in the two hospitals.
MPIC’s other investment in Mindanao is a real estate project also in Davao City by its property unit Landco.
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