Metro Pacific goal: Chain of 15 hospitals

Metro Pacific Investments Corp. (MPIC) is still in search of more medical centers to add to its growing chain of hospitals, the local holding firm of the Hong Kong-based First Pacific group revealed in its third quarter (Q3) operating results released on Wednesday. MPIC disclosed that it will “continue to invest in its existing hospitals, improve synergies across the group, and continue to pursue acquisitions to the goal of 3,000 beds, 15 hospitals." It now has six hospitals, including several colleges with health professions college programs. The acquisition of Asian Hospital Inc. which was disclosed only last November 4, added 219 hospital beds to the MPIC Hospital Group, will add 144 more beds when its 14-storey second tower is completed, and bring total bed capacity to 1,956. For this year’s first nine months, the MPIC’s share in its hospitals’ earnings was P166 million, an increase of 32 percent from P126 million same period in 2010. The hospital group had reported net income of P381 million from gross revenues of P6.25 billion. As of the end of Q3, MPIC had five hospitals: Makati Medical Center, Cardinal Santos Medical Center, Our Lady of Lourdes Hospital in Metro Manila; Riverside Medical Center Inc. in Bacolod; and Davao Doctors Hospital Inc. in Davao. — ELR, GMA News