METRO Pacific Hospital Holdings Inc. (MPHHI) on Thursday said it has bought a controlling stake in Los Baños Doctors Hospital (LBDH) and Medical Center Inc., and its founders to invest a total of P250 million in common and preferred shares for a 51-percent equity interest in the expanded capital of the company.
Los Baños Doctors is an 80-bed level 2 hospital located along Lopez Avenue, Batong Malake, Los Baños, Laguna. It was established in 1975, the first hospital in Los Baños.
The hospital has grown to serve patients not only from Los Baños but from adjacent areas of Calamba City and the Municipality of Bay. It recently completed the construction of an eight-story building which will add up to 26 new rooms, and 44 additional doctors’ clinics, expanding the hospital’s ability to cater to the growing health-care needs of the community.
“We, the founders of Los Baños Doctors Hospital, are very excited to welcome MPHHI, the largest private hospital network in the country, as our partner in our continuous pursuit of providing ever-improving healthcare services to our community,” Leslie M. Reyes, director-founder and former chairman of LBDH said.
“We invited Metro Pacific at a very crucial time in our hospital’s history. We just completed the construction of our expansion building, and we chose a partner who we know has the track record to help us operationalize and maximize this added capacity in order to reach and serve more patients,” said Ernesto M. Pua, also a founder and former director and president.
Metro Pacific now has 16 hospitals in its portfolio.
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I’m guessing with the recent annex of LBDH, they’ll need the expertise of the Metro Pacific group to maximize their operations.