PhilPlans acquires Rosehills Memorial

MANILA, Philippines - Tanco-led PhilPlans First Inc. has acquired Rosehills Memorial Management Inc. for over P100 million, thus boosting its memorial plan base.

Rosehill Memorial owns The Heritage Park Fort Bonifacio and Nacional Memorial Homes, two of the most prestigious memorial operators in the country.

Industry sources said the deal was signed last Wednesday after nearly a year of “courting” and due diligence.

PhilPlans, the country’s leading and profitable pre-need company, offers education, pension and memorial plans. As of end-June this year, 84 percent of its total sales are pension plans; 11 percent, education; and five percent, life/memorial.

PhilPlans reported first payments of P130 million in the first six months of 2013, up 12 percent from P114 million in the same period in 2012. Its trust fund reached over P40 billion.

The Heritage Park is a 76-hectare park located in Fort Bonifacio, just five minutes away from the Manila Golf Club and Manila Polo Club. It is accessible via three major thoroughfares – EDSA via McKinley Road, South Superhighway via Lawton Avenue, and Circumferential Road 5 (C5).

Nacional Memorial Homes, meanwhile, has been in operation for over a century, with the distinction of having served the memorial needs of eight Philippine presidents. It is located along G. Araneta Ave. in Quezon City and is the forerunner in the “memorial row” along the area.

The same sources said the acquisition completes the facilities that will make PhilPlans “a complete pre-need company.”

Meanwhile, Tanco’s STI Group also acquired Makati Medical Center School from the Metro Pacific Investment Group for an undisclosed amount.

“The acquisition obviously will complement as well as reinforce the medical courses offered by the Philippine Women’s University (PWU), an affiliate of the STI Group,” a source said.

Makati Medical Center School, however, will still serve as a base school for Makati Medical Center.

The medical school was established in 1975 as a division of Makati Medical Center and named the Remedios T. Romualdez Memorial Schools in 1978. It next became the Makati Medical Center College of Nursing.

It presently offers Bachelor of Science in Nursing and BS Psychology courses, BS Radiologic Technology this school year. It also offers certificate courses in emergency medical services, healthcare services, complementary and integrative medicine, and palliative and hospice care.