MANILA, Philippines - The Archdiocese of Manila-owned Cardinal Santos Medical Center, a 212-bed facility built on a three-hectare property in San Juan, Metro Manila, signed a contract management with Metro Pacific Investments Corp. (MPIC) last Feb. 27.
The agreement names Colinas Verdes Hospital Managers Corp. (Colinas) as operator of Cardinal Santos for a period of 20 years beginning March 1, 2009. Colinas is a wholly-owned subsidiary of Medical Doctors Inc (MDI), owner and operator of the Makati Medical Center, of which MPIC owns 32.44 percent. Colinas brings with it an investment commitment of P750 million for the first 10 years.
The investment represents capital expenditure, of which P250 million is allotted for the purchase and upgrade of medical equipment, and improvement of facilities and hospital services in the first three years. This is MPIC’s third investment in the hospital industry after Makati Medical Center and Davao Doctors Hospital.