Metro Pacific Investments Corp (PSE:MPI) is planning to acquire hospitals. Augusto P. Palisoc Jr, Executive Director of Metro Pacific, said that to further increase revenues, Metro Pacific is in talks with numerous family and doctors-owned hospitals for potential acquisitions. Palisoc added Metro Pacific will stick to its strategy of acquiring existing hospitals despite a new regulation of the Department of Health allowing private firms with to put up new general hospitals with less documentary requirements. The healthcare group allotted PHP 3.5 billion for acquisition of as much as four hospitals and additional ownership in existing hospitals.

Metro Pacific Investments Corp. announced unaudited consolidated financial results for the first quarter ended March 31, 2013. For the quarter, the company reported operating revenues of PHP 7,371 million against PHP 6,667 million a year ago. Income before income tax was PHP 2,911 million against PHP 2,580 million a year ago. Net income was PHP 2,704 million against PHP 2,391 million a year ago. Net income attributable to owners of the parent company was PHP 1,773 million or PHP 6.89 per diluted share against PHP 1,568 million or PHP 6.36 per diluted share a year ago. The parent company at net gearing ratio at 0.3% vs 15% as of December 31, 2012. The company announced consolidated core net income of PHP 1.9 billion, up 23% over the PHP 1.6 billion recorded in the first quarter of 2012. The rise in core net income is due mainly to: higher profit contributions from Manila Electric Company and Maynilad Water Services Inc. due to a combination of tariff progression and slightly higher volumes; Metro Pacific Tollways Corporation benefitting from strong traffic growth and interest savings on the NLEX and profit contribution from the recently acquired CAVITEX and, finally, cost reductions and higher patient revenues at hospitals. The company announced outlook for the full year 2013 core net income growth looks positive.

Metro Pacific Investments Corp, Q1 2013 Earnings Call, May 08, 2013