Lombard Backs The Medical City's Philippines Expansion

SAN FRANCISCO, July 6 /PRNewswire/ -- Lombard Investments, Inc. announces a follow-on investment in Philippines-based The Medical City, one of the country's premiere healthcare organizations.  The investment will support financing for hospital acquisitions in Iloilo, Pampanga, Dagupan, Olongapo, and Cavite.  Acquiring these hospitals will bring the total number of TMC's facility locations to eighteen.

"These acquisitions underscore our firm commitment to providing Filipinos greater accessibility to world-class health care services," says Dr. Alfredo R.A. Bengzon, TMC's President and CEO.  "We will make a substantial investment to enhance these facilities and the services available to our patients at these locations."

The Medical City's service is distinguished by a unique value proposition expressed in its motto, "Where Patients are Partners".  This philosophy encourages collaboration between the hospitals' doctors and patients, creating a special relationship to meet the specific healthcare needs of its patients.

"These are very exciting times, and we welcome the opportunity to become part of the growing Medical City family.  We believe that there is tremendous synergy from the shared visions of our institutions to uplift the state of the nation's health, with this to be achieved through productive and innovative partnerships among health care institutions, professionals and beneficiaries," said Dr. Evangeline C. Johnson, GSIH and MMC's President and CEO.  

"We value the partnership that Lombard and the talented management team at TMC have formed.  TMC has proven its capabilities to provide world-class healthcare services to a growing patient base.  We believe these acquisitions will provide Filipino and overseas patients even more quality choices to serve their healthcare needs," said Mr. Pote Videt, Managing Director of Lombard.  

About The Medical City:

The Medical City is a world-class health care organization with over forty years of experience in hospital operations and administration, serving 40,000 inpatients and 400,000 outpatients annually.  TMC's staff of over 1,000 physicians provide care in all major clinical specialties and subspecialties.  The physicians are complemented by a 2,100 person team of professionals engaged in allied medical, administrative and support services.  TMC earned accreditation by the Joint Commission International (JCI), the world's most prestigious accrediting body for international health care organizations.  It has also been recognized as a Superbrands Philippines award winner and a Reader's Digest Asia Most Trusted Brands Awardee.  (www.themedicalcity.com)

About Lombard Investments:

Lombard is a leading international private equity investment manager with offices in Bangkok, Hong Kong, and San Francisco, and extensive working relationships in Manila, Ho Chi Minh City, Shanghai and Taipei. Formed in 1985, Lombard has made more than 90 early stage, minority growth and control investments in Asia and North America. The firm's investors include some of the world's largest and most respected financial institutions, major pension funds, and corporations, as well as family offices in Asia, Europe and North America.  Lombard made its investment in The Medical City through an affiliate of Lombard Asia III, the firm's Emerging Asia private equity fund.  (www.lombardinvestments.com)

SOURCE Lombard Investments, Inc.