MPIC to take over Davao hospital
Metro Pacific Investments Corp. has offered to buy out the remaining 65.18-percent interest in the 315-bed Davao Doctors Hospital for P1.61 billion.
Metro Pacific said in a disclosure to the stock exchange unit Metro Pacific Hospital Holdings Inc. on Thursday launched a general offer to acquire the remaining 587,154 shares of stock in Davao Doctors Hospital (Clinica Hilario) Inc. not held by it.
MPHHI currently owns 313,655 shares, representing 34.82 percent of the outstanding capital stock of Davao Doctors.
Metro Pacific said the tender offer is based on the tiered pricing. The tender offer will end on Nov. 19. SyCip Salazar Hernandez and Gatmaitan Law Offices was tapped to be the tender offer agent for the deal.
Metro Pacific currently operates and manages nine hospitals, including Davao Doctors, Western Mindanao Medical Center in Zamboanga City, Makati Medical Center, Asian Hospital & Medical Center, Cardinal Santos Medical Center, Our Lady of Lourdes Hospital, De Los Santos Medical Center, Riverside Medical Center in Bacolod, and Central Luzon Doctors Hospital in Tarlac.