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Metro Pacific to buy two more hospitals

Published on 24 October 2012 [ ]

Metro Pacific Investment Corp. (MPIC) is poised to acquire two more hospitals in as it expands its presence in the country’s healthcare industry.

David Nicol, chief financial officer of MPIC, said in an interview with reporters that they are going to acquire two more hospitals within wider Metro Manila.

“We have six hospitals in our portfolio and we are about to announce the closure of another two at the acquisition front within the end of this year, which will take us at/to 2,100 beds,” Nicol also said during the COL Financial: Special Customer Briefing where MPIC, together with other blue chip firms, were invited to discuss developments. As for the value of the hospitals, Nicol said that they want to uphold confidentiality.

“Because the vendors are quite sensitive, and I would rather disclose it technically when it’s done,” he said.

Nicol also noted that MPIC is in the process of growing its healthcare business with the hospital group expected to contribute earnings of P1.5 billion a year beginning 2015 or 2016.

MPIC’s hospitals in the country are Asian Hospital in Alabang, Makati Medical Center, Cardinal Santos Medical Center in San Juan, Our Lady of Lourdes Hospital in Manila, Riverside Medical Center in Bacolod and Davao Doctors Hospital in Mindanao.

Nicol also said that MPIC is also after new infrastructure-related opportunities in the country.

He said that they are looking at new investments in airports, waste management and green energy to add to its existing businesses in power generation, toll roads, water utility and healthcare.

“Part of the central thesis in MPIC is to find new investments and new partners to work with, to develop the infrastructure in the country, to make good financial returns for our shareholders,” Nicol added.

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