MANILA, Philippines - The healthcare group of infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) has renewed its collective bargaining deal with employees of one of its newly-acquired hospitals.
The agreement is in line with MPIC’s goals of delivering quality healthcare to its clients, a company official said.
In a disclosure, MPIC Hospitals Group said it concluded the renewal of a three-year collective bargaining agreement (CBA) with the employees’ union of De Los Santos Medical Center Inc. (DLSMC).
“Our commitment to deliver quality, accessible and affordable healthcare to our patients is anchored on our motivated employees, accredited doctors, acquisition of new equipment, and improvement of our facilities,†said DLSMC president and CEO Raul Pagdanganan.
The 2013-2016 CBA was signed by Pagdanganan and the DLSMC Employees Association-Unified Filipino Service Workers.
In June, MPIC’s healthcare unit completed its acquisition of a 51-percent stake in Quezon City-based DLSMC.
The purchase of the 150-bed hospital beefed up the portfolio of the country’s largest private hospital chain to almost 2,000 beds.
MPIC committed to spend P250 million for DLSMC’s redevelopment plan that includes the renovation and expansion of the hospital facilities, the upgrade of operating rooms and the purchase of new medical equipment. New patient rooms, doctors’ clinics and parking slots will also be developed to meet the growing needs of clients.
DLSMC is a tertiary teaching and training hospital founded in 1973 by the late Dr. Jose V. De Los Santos Sr., considered the father of Philippine orthopedics.
DLSMC also has an affiliate, De Los Santos–STI Megaclinic, Inc. (Megaclinic), a 2,000-square-meter ambulatory and diagnostic center located in SM Megamall. De los Santos–STI Megaclinic Inc. is considered the largest in the country in this category.
MPIC also owns and controls Makati Medical Center, Cardinal Santos Medical Center in San Juan, Our Lady of Lourdes Hospital in Sta. Mesa, Asian Hospital in Muntinlupa, Riverside Medical Center in Bacolod, Central Luzon Doctors’ Hospital and Davao Doctors Hospital in Mindanao.
Revenues of the healthcare group hit P11 billion last year while earnings reached P722 million, up 29 percent from 2011 figures.
MPIC is also into toll roads (Metro Pacific Tollways Corp.), power generation and distribution (Manila Electric Co.) and water utility (Maynilad Water Services Inc.).