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MPIC to operate Cardinal Santos Medical Center

Friday, August 01, 2008 [ ]

METRO Pacific Investments Corp. (MPIC) secured a temporary contract to manage and operate the Cardinal Santos Medical Center.

In a disclosure to the Philippine Stock Exchange, MPIC said it would assume the operation and management of the hospital for six months.

Cardinal Santos is a 212-bed tertiary hospital situated in a three-hectare property along Wilson Street, San Juan City. The land as well as the hospital is owned by the Roman Catholic Archbishop of Manila.

MPIC said the Manila Archbishop’s office asked the company and its affiliate Medical Doctors Inc. (MDI) to handle the interim operation in preparation for the next long-term operator. MDI owns the Makati Medical Center.

At present, MPIC owns 33 percent of Makati Medical Center, which has around 600 beds.

In August 1988, the Manila Archbishop’s office, then represented by the late Jaime Cardinal Sin, entered into a Joint Apostolate Agreement with Hospital Managers Inc. (HMI) to operate Cardinal Santos for an initial 10 years, and later renewed for an additional 10 years. The agreement expired on July 31, 2008.-- Katrina Mennen A. Vadez


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