METRO Pacific Investments Corp. (MPIC) is acquiring Howard Hubbard Memorial Hospital (HHMH) in Mindanao, its fifth hospital in Mindanao and 20th under its portfolio.
MPIC unit Metro Pacific Health Corp. (MPH) said the acquisition involves the sale of hospital assets to a newly-formed subsidiary, Metro Matutum Hospital Inc. (MMHI), from Dole Philippines Inc. (DPI).
MMHI, the new company formed to own, operate and manage the hospital, is 67 percent owned by MPH and 33 percent owned by MPH subsidiary, St. Elizabeth Hospital Inc. (SEHI), owner of the 273-bed Level 3 hospital in General Santos City located about 45 minutes from HHMH.
HHMH is operated by Mt. Matutum Healthcare Foundation Inc. since 2000 through a management contract.
Established in 1967, HHMH is a 95-bed hospital that has been serving the healthcare needs of thousands of DPI employees and residents of Polomolok, South Cotabato, and nearby areas, MPIC said.
The hospital facility, located within the integrated plantation and canning facility of DPI, has seen modest expansion over the years and several management transitions.
“It’s been a long time coming for this investment, and MPH is excited to finally come in and contribute to the Polomolok community through its expertise in investing in and managing healthcare facilities around the country,” said Celso Bernard Lopez, MPH provincial cluster head. Lopez is also an incoming HHMH president.
“The community should expect nothing but the best out of this investment, including major expansions in the hospital’s facilities and service offerings which our incoming management team will put in motion from day one,” Lopez said.
As the fifth Mindanao hospital in the MPIC portfolio, HHMH joins SEHI, Davao Doctors Hospital, Manuel J. Santos Hospital in Butuan, and West Metro Medical Center in Zamboanga.
Manuel Pangilinan, MPIC chairman, said the investment signifies the continued commitment of MPH to grow and expand its reach beyond the major cities and areas of the country.
“Over the past couple of years, there have been many changes and improvements in how MPH operates, and deploying capital through investments in hospitals and other healthcare businesses will always be a key part of our long-term strategy of making the best healthcare accessible to as many Filipinos as possible,” he said.
The 15 other hospitals in MPH’s portfolio are Makati Medical Center, Asian Hospital and Medical Center, Cardinal Santos Medical Center, Manila Doctors Hospital, De Los Santos Medical Center, Commonwealth Hospital and Medical Center, Our Lady of Lourdes Hospital, Marikina Valley Medical Center, Jesus Delgado Memorial Hospital, Calamba Medical Center, Los Baños Doctors Hospital, Sacred Heart Hospital of Malolos, Central Luzon Doctors Hospital in Tarlac, Riverside Medical Center in Bacolod, and Ramiro Community Hospital in Bohol.
