The hospital unit of Metro Pacific Investments Corp. plans to raise as much as P20 billion from the issuance of shares in the next two years.
David Nicol, CFO at MPIC, told reporters the issuance of shares would either be through an initial public offering or a private placement by the group’s healthcare services arm.
Nicol cited the need to raise additional funds to support the expansion iniiatives as well as the planned acquisitions of the hospital group.
The infrastructure conglomerate is on the lookout for hospitals in Mindanao, particularly in Butuan. It is also keen on acquiring The Medical City, which has branches in Clark, Iloilo, Laguna and Pangasinan.
It has grown its network to 14 hospitals with about 3,300 beds as of the end of October. Its portfolio includes Makati Medical Center, Cardinal Santos Medical Center, Our Lady of Lourdes Hospital, Asian Hospital, De Los Santos Medical Center, Manila Doctors Hospital, Marikina Valley Medical Center Inc., and Dr. Jesus C. Delgado Memorial Hospital.
Outside Metro Manila, MPIC has investments in in Davao Doctors Hospital, Riverside Medical Center in Bacolod, Central Luzon Doctors Hospital in Tarlac, West Metro Medical Center in Zamboanga, Sacred Heart Hospital of Malolos, Inc. in Bulacan and St. Elizabeth Hospital, Inc. in General Santos City.