The ACE Medical Center Group of Hospitals is putting up a hospital in Cagayan de Oro.
Regulatory filings of the company showed that its unit Allied Care Experts Medical (ACE) Center- Cagayan de Oro, Inc. (CDO) is offering to interested parties 3,600 blocks of ACE Medical Center- CDO shares, divided into 10 shares per lot, at an offer price of between P200,000 to P400,000 per lot.
The company expects to net P996,696,895 from the offer, which will be used to finance the construction of its Cagayan de Oro hospital.
The eight-storey, 176-bed, ACE Medical Center – CDO in Lapasan Cagayan de Oro City will be constructed for P778.4 million. The rest of the amount from the fund raising will be used to cover the acquisition of medical equipment, the partial payment of a loan, as well as for the hospital’s working capital requirement.
