Temasek advances in bid for stake in $2.5b Metro Pacific hospital unit

This could potentially be the biggest healthcare deal in the Philippines.

Singapore state investor Temasek Holdings are amongst the suitors who have advanced to the second round of the auction to buy into the hospital unit of Philippines’ Metro Pacific Investments, sources told Reuters.

The unit, which operates 14 hospitals that reportedly count amongst the largest and most modern in the Philippines, had attracted interest from more than a dozen investors, according to sources.

The sale comes as global investors scout for targets after raising billions of dollars in the last few years. Southeast Asia, home to a large number of fast-growing companies, is viewed by investors as an attractive prospect, due to strong healthcare spending.

Last month, Metro Pacific announced plans to sell a minority stake in its unit at a valuation of up to $2.5b, which could make it the country’s biggest healthcare deal.

Here’s more from Reuters.

Photo taken from the MMC website. Makati Medical Center is one of the hospitals owned and operated by Medical Doctors Inc., a subsidiary of Metro Pacific Investments Corporation.