Metro Pacific Investments Corporation or simply MPIC bought the 51-percent equity stake in Central Luzon Doctors’ Hospital (CLDH), which is worth worth P187 million, in Tarlac City, a transaction that brought the hospital beds of the Philippine holding firm of Hong Kong’s First Pacific Company Ltd. to 2,137.
The 200-bed capacity hospital in Tarlac City is the second hospital that Metro Pacific acquired this year and the 8th in its investments in the field including Makati Medical Center, Davao Doctors Hospital, Cardinal Santos Medical Center, Riverside Medical Center, Our Lady of Lourdes Hospital, Asian Hospital, and De Los Santos Medical Center in Quezon City.
The biggest medical facility in President Benigno Aquino III’s home-province intends to build a new four-storey facility building with a new hospital equipped with hi-tech equipment. According to a source working in the said hospital, the new facility will house the most advanced diagnostic imaging center in the region with initially a 64-slice CT scan and digital x-ray machines, and eventually a 1.5 Tesla MRI and a digital mammography machine.
Design work will start this month, while construction is scheduled to begin on the second quarter of next year, CLDH CEO Cid said, adding that the extension is scheduled for completion by the same quarter of 2015.
The acquisition Tarlac’s largest private medical hospital started in June when Metro Pacific Investment Corp. signed a deal to acquire a 51 percent interest in Central Luzon Doctors’ P187 million. MPIC today turned over to CLDH the initial P97 million payment for the former’s investment, with the remaining amount to be given in the next seven years.
Aside from healthcare facilities, MPIC is also engaged in the business of electricity, mining, wireless communications, toll roads and water utility.