CONGLOMERATE Metro Pacific Investment Corp. (MPIC) is still interested in acquiring additional stake in Metro Pacific Health Corp., the country’s largest hospital group.
MPIC Chief Finance, Risk and Sustainability Officer Chaye Cabal-Revilla said the company already made an offer to acquire an additional 30 percent of the hospital group from KKR and Co. and Singapore sovereign wealth fund GIC, which holds an 80 percent stake in Metro Pacific Health.
MPIC owns the remaining 20 percent.
‘We all know that when a PE (private equity) investor comes in, it will not be forever. But MPIC has always been there, especially MVP (Manuel V. Pangilinan), that’s his baby MPH. We’ve started with Makati Med,’ Revilla said, referring to Makati Medical Center.
‘We’ve actually renewed our contract with Cardinal Santos (Medical Center). So, they’re looking at MPH and MVP as the anchor of their (operations),’ she said.
MPH has 27 hospitals.
Pangilinan said he wanted to almost double the size of the hospitals group to 50.
‘So I hope we could do that by in 5 years or so,’ he said.
Revilla said the funds that the company got from the investors allowed them to expand its business.
‘So, here, we have bigger plans,’ she said.
Revilla said the company has plans to integrate its wholly-owned unit Metro Pacific Health Tech Corp., or mWell, into MPH.
‘So, we’re even doing the digitalization of MPH in the hospitals. Because, when we’re able to do the process that we’ve done here in the mWell clinic into the hospitals, when you go into a hospital, you don’t have to fill up 10-pager forms,’ she said.
Kohlberg, Kravis Robert (KKR) andGovernment Investment Corp. (GIC) completed its investments in MPH in December 2019. A total of P35.3 billion in investments were placed in the hospital group.
The group has a nationwide network of 27 hospitals, 33 outpatient care centers, 2 allied health colleges, and a centralized laboratory across Luzon, Visayas and Mindanao.
It was incorporated in 2007 and acquired Makati Medical Center as its first investment.