MVP adds Marikina Valley Medical Center to its growing hospital network
Bilyonaryo Manuel Pangilinan-led Metro Pacific Investments Corp. Has sealed a deal to acquire 93 percent of Marikina Valley Medical Center for nearly P100 million.
MPIC through Metro Pacific Hospital Holdings Inc. bought 469,077 shares of MVMC for P 2,117.80 per share.
The acquisition, which brings Metro Pacific’s total hospital network to 12 across the country, is in line with Pangilinan’s goal of providing Filipinos with quality and affordable healthcare.
Situated on a two hectare property along Sumulong Highway in Marikina, MVMC was established by a
group of 21 doctors of various specializations.
The Pangilinan group ventured into the healthcare industry in 2007 with its first investment in premier Makati Medical Center. It has since poured in P 12 billion into the industry, principally to expand
and improve facilities, and to purchase the latest medical equipment.
MVMC president Juan Lagunzad said the entry of Metro Pacific will allow the hospital to level up the quality of its infrastructure, equipment and services to a premier level.
Augie Palisoc Jr., president of the hospital division, said the group has “always wanted to have a presence in the eastern side of Metro Manila where birth of new communities unabated.
With this latest acquisition, MPIC will now have eight hospitals in Metro Manila — Makati Medical Center, Cardinal Santos Medical Center, Our Lady of Lourdes Hospital, Asian Hospital, De Los Santos Medical Center, and Manila Doctors Hospital.
Outside the metropolis, it has Davao Doctors Hospital, Riverside Medical Center in Bacolod, Central Luzon Doctors Hospital in Tarlac, West Metro Medical Center in Zamboanga, and Sacred Heart Hospital of Malolos in Bulacan