Davao Doctors parent firm posts P1.3-b earnings in 2015

Mar. 01, 2016

(Photo courtesy of Davao Doctors Hospital)

(Photo courtesy of Davao Doctors Hospital)

MALANG, Indonesia — Davao Doctors Hospital’s (DDH) parent company closed 2015 with 30% increase in its net earnings, driven by an uptick in its patient revenues and gains from capital expenditures.

Metro Pacific Hospital Holdings’ (MPHHI) net revenues from its core businesses reached P1.3 billion in the said year, its holding company Metro Pacific Investments Corporation (MPIC) told the Philippine Stock Exchange on Tuesday, March 1.

MPHHI, which owns 34% of DDH’s equities, is the hospital investment arm of MPIC, one of the country’s most diversified publicly-listed companies. It has controlling stakes in Philippine Long Distance and Telephone Company, Manila Electric Company, Maynilad Water Services, Metro Pacific Tollways Corporation, among others.

However, the subsidiary only contributed P474 million in the same year, a slight increase from P465 million in 2014.

MPHHI’s improvement in its core net income was driven by buoyed by an increase in its patient revenues, gains from completed capital expenditure programs, lower borrowing interests, and savings from group synergy projects, the disclosure said.

Metro Pacific acquired interests in DDH in 2008. Through its hospital investments arm, the Pangilinan-led company has controlling stakes in 11 hospitals throughout the country, among them include the Makati Medical Center. (davaotoday.com)

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