Metro Pacific Hospital Holdings Inc. is acquiring a majority stake in Los Baños Doctors Hospital and Medical Center Inc., an 80-bed hospital in Los Baños, Laguna.
MPHHI said it signed an investment agreement with LBDH and its founders to invest P250 million in common and preferred shares for a 51-percent equity interest in the expanded capital of the company.
MPHHI said the acquisition of LBDH was aligned with group’s efforts to expand its reach across the healthcare industry.
“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,” MPHHI president and chief executive Augusto Palisoc, Jr. said.
“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 Dr. Leslie M. Reyes, director-founder and former chairman of LBDH.