Global private markets manager to own 63% of The Medical Cu's parent firm

This investment will expand healthcare capacity by augmenting TMC's network.

The Medical City's (TMC) parent company, Professional Services Incorporated (PSI), completed a mandatory tender offer that allows private markets manager, CVC Capital Partners, to own 63.94% of PSI.

In a statement, TMC, one of the largest private healthcare networks in the Philippines, said the investment will expand healthcare by augmenting resources for its five Philippine hospitals and 60 clinic networks.

Chairman Jose Xavier Gonzales, from lead Philippine shareholder Fountel Corporation, said more than the capital infusion of P12.7b, CVC’s global healthcare partnerships will facilitate TMC’s goal in precision medicine.

Brian Hong, Managing Partner for Southeast Asia at CVC Capital, said Margaret Bengzon, who contributed to TMC’s growth as a former member of its leadership team, will serve as Senior Advisor by its Singapore-based holding company.