Another hospital added to the infrastructure holding firm of Manny V. Pangilinan.
The Metro Pacific Investments Corporation signed a deal to acquire the controlling stake of Bumungrad to Asian Hospital, according to a disclosure the company filed to the Philippine Stock Exchange.
The 57% controlling stake is worth P1.46 billion.
The 219-bed upscale hospital in Alabang will be the sixth hospital in MPIC’s hospital portfolio according to reports.
MPIC is very excited with this new acquisition especially with a 14-storey second tower in the works for the hospital’s expansion. The second tower will have 144 beds, additional outpatient facilities, parking space and clinics.
Acquisition of Asian Hospital by MPIC will be completed before 2011 comes to a close.
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