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MPIC airs interest in state hospital

Posted on November 27, 2011 10:10:45 PM [ BusinessWorld Online ]

METRO PACIFIC Investments Corp. (MPIC) may join the bidding for the modernization of Philippine Orthopedic Center, one of the public-private partnerships (PPP) set to be rolled out next year.

 “We would be interested to look at it,” MPIC Chairman Manuel V. Pangilinan said in a chance interview on Friday.

The conglomerate already has stakes in six hospitals in the country.

“It depends on the condition of the hospital and the terms under which government would bid it out,” Mr. Pangilinan added.

The modernization cost had earlier been pegged at P1.5 billion according to PPP brochures handed out last year. The hospital in Quezon City has been billed as having “a very good potential to engage in the commercial production of limb prosthesis,” an activity that is said to provide additional resources.

MPIC, for its part, targets to have around 15 hospitals in total in the next five years.

This year, the company acquired controlling stakes in Asian Hospital, Inc. in Muntinlupa City and Cardinal Santos Medical Center in San Juan City.

MPIC also has interests in Makati Medical Center, Our Lady of Lourdes Hospital in Sta. Mesa in Manila, Riverside Medical Center in Bacolod, and Davao Doctors Hospital in Mindanao.

MPIC is the local arm of Hong Kong’s First Pacific Co. Ltd., which partly owns Philippine Long Distance Telephone Co. (PLDT).

Mediaquest Holdings, Inc., a unit of the Beneficial Trust Fund of PLDT, has a minority stake in BusinessWorld. -- Cliff Harvey C. Venzon
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