SAN FRANCISCO, May 5 /PRNewswire/ -- Lombard Investments, Inc. is pleased to announce the acquisition of 18% of Professional Services, Inc. ("PSI" or the "Company"), owner and operator of The Medical City, a leading, private tertiary-care hospital in the Philippines. Its facilities include a 500 bed hospital complex (soon to be expanded to 750 beds) and 280 medical clinics.
PSI is managed by a group of leading physicians and other professionals led by Alfredo R.A. Bengzon, a former Secretary of Health and Dean of the prestigious Ateneo School of Medicine and Public Health in the Philippines. The management team's recent achievements include securing as of February 2007 the Joint Commission International Accreditation ("JCIA"), the most widely recognized international healthcare certificate. The Medical City is one of only two hospitals in the Philippines to receive such a distinction.
Mr. Pote Videt, Managing Director of Lombard Investments, Inc., said, "Lombard is pleased to become a long-term investor and board member of PSI. The Medical City is well-positioned to benefit from the strong domestic demand for private healthcare as well as a growing international medical tourism industry. Through Lombard's representation on the board of directors of the Company, we look forward to many years of fruitful co-operation."
About Lombard Investments:
Lombard is a leading international private equity investment manager with offices in Bangkok, Hong Kong and San Francisco. Formed in 1985, Lombard has made more than 75 controlling and significant minority 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 investment offices in Asia, North America and Europe. Lombard made its investment in PSI through Lombard Asia III, the firm's South East Asia and Greater China private equity fund. (http://www.lombardinvestments.com)
More information is available by visiting
http://www.lombardinvestments.com or by contacting:
Mr. Thomas Smith, Managing Director Mr. Pote Videt, Managing Director
Email: tsmith@lombardinvestments Email: pote@lombardinvestments.com
SOURCE Lombard Investments, Inc.
International News / Press Release source: PR Newswire
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