STI allots P40-M for equity stake in two hospitals

STI, a leading IT school, has earmarked P40 million for the acquisition of substantial stakes in two hospitals as part of its ongoing expansion program to ensure continued profitability.

In an interview following the company’s annual stockholders’ meeting yesterday, STI president and chief executive officer Monico V. Jacob said STI is acquiring a 25 percent interest in Delos Santos Hospital in E. Rodriguez, Quezon City and another 20 percent stake in Muntinlupa Diagnostic Center.

Jacob said negotiations are ongoing and that a deal is expected to be consummated within the year.

For next year, Jacob said STI is eyeing to aquire five more hospitals in and outside Metro Manila. "It makes sense for us to look for hospitals in places where our nursing schools are also located," he explained.

STI’s nursing schools are located in Manila, Laguna, Bulacan, La Union, Baguio, Cagayan de Oro, Davao, Cebu and Zamboanga.

Jacob said STI has enrolled a total of 9,000 nursing students. "We just don’t want to provide good education to our students but also give them jobs when they graduate," he said.

STI currently has over 100 campuses strategically located across the Philippines, making its mark as the largest network of colleges in the country.

It is eyeing the expansion of its operations in the Middle East, particularly in Dubai and the Kingdon of Saudi Arabia, which have a considerable Filipino population.

Younger generation Filipinos who moved to the Middle East have difficulty entering Arabian or Dubai colleges, which require a completion of 12 years of basic education before moving on to college.

STI already has five branches abroad: four in Indonesia and another recently opened facility in Vietnam.