MANILA -- Metro Pacific Investment Corp said Thursday its hospital unit took a majority equity interest in an 80-bed hospital in the capital's southern suburbs.
Metro Pacific Hospital Holdings, led by tycoon Manuel Pangilinan, invested P250 million in Los Baños Doctors Hospital and Medical Center, taking a 51-percent equity interest, MPIC told the stock exchange.
The hospital in Los Baños, Laguna is the first hospital in the city, established in 1975. It serves patients from Los Baños and neighboring Bay municipality and Calamba City, MPIC said.
Los Baños Doctors recently completed construction of an 8-storey building that will add up to 26 rooms and 44 doctors' clinics, MPIC said.
Metro Pacific's hospital unit has stakes in among other, the Makati Medical Center, Cardinal Santos Medical Center and Asian Hospital.
On Wednesday, Metro Pacific said it was partnering with Thailand's Dusit International for its maiden foray into the tourism business.
Metro Pacific Investments Corp, Metro Pacific Hospital Holdings, mergers and acquisitions, hospital, Los Baños Doctors Hospital and Medical Center