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Manila Bulletin devider Business devider Metro Pacific buys control of Los Baños hospital

Metro Pacific buys control of Los Baños hospital

Published Feb 21, 2020 12:00 am
By JAMES A. LOYOLA Metro Pacific Hospital Holdings, Inc. (MPHHI) is investing ₱250 million for a 51 percent stake in Los Baños Doctors Hospital and Medical Center, Inc. (LBDH). In a disclosure to the Philippine Stock Exchange, MPHHI’s affiliate Metro Pacific Investments Corporation said MPHHI has signed an investment agreement with LBDH and its founders to invest in common and preferred shares for a 51 percent equity interest in the expanded capital of the company. LBDH is an 80-bed Level 2 hospital located along Lopez Avenue, Batong Malake, Los Baños, Laguna which was established in 1975 – the first hospital in Los Baños. Through the years, LBDH has grown to serve patients not only from Los Baños but from adjacent areas of Calamba City and the Municipality of Bay. LBDH recently completed the construction of an 8-storey building which will add up to 26 new rooms and 44 additional doctors’ clinics, expanding the hospital’s ability to cater to the growing healthcare needs of the community. “We, the Founders of Los Baños Doctors Hospital, are very excited to welcome MPHHI, the largest private hospital network in the country, as our partner in our continuous pursuit of providing ever-improving healthcare services to our community,” said LBDH Founder and Chairman Dr. Leslie M. Reyes. LBDH Founder and President Dr. Ernesto M. Pua said, “We invited Metro Pacific at a very crucial time in our hospital’s history. We just completed the construction of our expansion building and we chose a partner who we know has the track-record to help us operationalize and maximize this added capacity in order to reach and serve more patients.” “We trust that, as they have done for the other hospitals in their portfolio, Metro Pacific will not only preserve but build-on and strengthen the 45-year legacy of our hospital,” added Dr. Renato V. Torres, another Director-Founder of LBDH. MPHHI President and CEO Augusto P. Palisoc, Jr. said, “We appreciate and thank the Founders of LBDH for inviting and allowing us to invest in their fine hospital. We are likewise excited to work with them, as well as with all the doctors and employees of LBDH, in continually expanding and growing their service capabilities so that Los Baños and its adjacent communities will always have accessible quality healthcare.”
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