Metro Pacific Hospital Holdings Secures $685 Million Strategic Investment to Expand Subsidiaries, Joint Ventures, and Healthcare Network

VCBeat (WeChat ID: vcbeat) learned from Business Wire that on December 8, 2019, Metro Pacific Hospital Holdings, the largest private hospital operator in the Philippines, announced the completion of a $685 million financing round. The round was jointly invested by Metro Pacific Investments Corporation (MPIC), an affiliate of KKR, and GIC, Singapore’s sovereign wealth fund.

This round of financing will be used to support Metro Pacific Hospitals’ potential investments in other hospitals and new healthcare businesses. The funds will also be utilized to develop the company’s existing subsidiaries, associates, and joint ventures.

Measured by the number of licensed beds and revenue, Metro Pacific Hospitals is the largest operator of private hospitals and healthcare networks in the Philippines. The company operates 14 hospitals nationwide with approximately 3,200 beds. Amid sustained growth in per capita income and accelerating urbanization, an increasing number of Filipinos are seeking high-quality medical services, and the company is committed to providing patients with high-quality healthcare solutions.

Augusto P. Palisoc Jr., President and Chief Executive Officer of Metro Pacific Hospitals, stated, “In recent years, demand for hospitals, clinics, and facilities capable of delivering high-quality medical services has been steadily rising, positioning the Philippine healthcare industry for significant growth. With this new investment, combined with the expertise brought by KKR and GIC to Metro Pacific Hospitals, we are well-positioned to seize opportunities to expand our business through continuous expansion, acquisitions, investments, and the adoption of new technologies, ultimately meeting patient needs.”

K. Lim, President and Chief Executive Officer of MPIC, stated: “The MPIC team is proud of Metro Pacific Hospitals’ development into the largest and strongest hospital group in the Philippines. Looking ahead, Metro Pacific Hospitals will continue to grow and expand in partnership with KKR and GIC. We look forward to maintaining a long-term collaborative relationship with the entire Metro Pacific team.”

Ashish Shastry, Co-Head of KKR’s Private Equity Business in Asia Pacific and Head of Southeast Asia, stated: “Metro Pacific Hospitals is a world-class healthcare institution with an outstanding team of experts. We are delighted to partner with this exceptional team and look forward to unlocking new possibilities for Metro Pacific Hospitals in the healthcare industry in the coming years.”

KKR is a global investment firm in India. In addition to managing capital for fund investors, KKR holds its own funds and provides financing solutions and investment opportunities to clients through its capital markets business. The company invests across multiple industries with a flexible approach, focusing primarily on biopharmaceuticals, medical devices, diagnostics/life science tools, and HCIT (healthcare information technology)/informatics within the healthcare sector.

GIC is a leading global investment company established in 1981, dedicated to managing Singapore’s foreign reserves. In the realm of private equity, GIC collaborates with fund managers and management teams through both fund investments and direct corporate investments to help world-class enterprises achieve their objectives. Currently, GIC has invested in more than 40 countries and regions. Headquartered in Singapore, the firm maintains offices in over ten major financial cities worldwide.

(Compiled by Wang Fang)