METRO Pacific Health Corp. has acquired a hospital in Polomolok, South Cotabato through a newly formed subsidiary that will manage the facility.
In a press release on Monday, the healthcare unit of listed conglomerate Metro Pacific Investments Corp. (MPIC) said the acquisition of Howard Hubbard Memorial Hospital (HHMH) was done through its new unit Metro Matutum Hospital, Inc.
“It’s been a long time coming for this investment, and [Metro Pacific Health] 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 incoming HHMH President Celso Bernard G. Lopez.
In October 2022, a business transfer agreement was conducted by the company to acquire the hospital. The move involves the sale of hospital assets by Dole Philippines, Inc.
Howard Hubbard Memorial is a 95-bed hospital serving locals and Dole employees. It is located within Dole’s integrated plantation and canning facility. It was initially operated by Mt. Matutum Healthcare Foundation, Inc. in the 2000s.
Metro Matutum Hospital, which will own, operate and manage the hospital, is 67%-owned by Metro Pacific Health and 33%-owned by its subsidiary St. Elizabeth Hospital, Inc., owner of a Level 3 hospital in General Santos City.
Howard Hubbert Hospital will be the fifth Metro Pacific hospital located in Mindanao and the 20th throughout 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,” said Metro Pacific Health President Manuel V. Pangilinan.
Metro Pacific Health (MPH) was formerly known as Metro Pacific Hospitals Holdings, Inc.
MPIC is one of three key Philippine units of First Pacific, the others being Philex Mining Corp. and PLDT Inc. Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority stake in BusinessWorld through the Philippine Star Group, which it controls. — Adrian H. Halili