Metro Pacific Investments buys De Los Santos Medical, its 7th hospital

Metro Pacific Investments Corp. (MPIC) has completed the purchase of a 51 percent stake in De Los Santos Medical Center Inc. (DLSMC), making it the seventh hospital in the infrastructure conglomerate’s growing healthcare services portfolio.

 

The deal also makes MPIC the largest private hospital group in the Philippines, with a total bed capacity of 1,944.

 

The transaction paves the way for a P250 million redevelopment plan of the 39-year hospital along E. Rodriguez Sr. Blvd. in Quezon City. The works will cover the construction of more rooms for patients,  upgrading of operating rooms and diagnostic centers, and the acquisition of new medical equipment.

           

The expansion includes a Medical Arts Building to house the increasing number of accredited doctors.

 

Founded in 1973 by the late Dr. Jose V. De Los Santos Sr.—considered the Father of Philippine Orthopedics—the hospital has 150 beds and owns Megaclinic, an ambulatory care center in SM Megamall.

 

With Metro Pacific Investments now a majority owner, the medical center has appointed Raul C. Pagdanganan as president and chief executive officer. He used to hold several senior executive positions in the Pangilinan-led  MPIC and PLDT Group of Companies.

 

 “It is our commitment to give our patients the best in health care—affordable, accessible and of high quality,” said Pagdanganan.

 

MPIC first got involved in the hospital industry with an investment in Makati Medical Center, followed by subsequent investments in Davao Doctors Hospital,Cardinal Santos Medical Center, Riverside Medical Center, Our Lady of Lourdes Hospital, and most recently, the Asian Hospital and Medical Center. — VS, GMA News