Capital mart tapped amid ACE-MCZ growth

Allied Care Experts Medical Center-Zamboanga Inc. (ACE-MCZ) is about to join the roster of companies tapping the capital market this year to raise funds to support its business expansions. 

The Securities and Exchange Commission (SEC) said on Monday that it has approved the direct public offering (DPO) of Allied Care Experts Medical Center-Zamboanga Inc. (ACE-MCZ) worth up to P1 billion following a meeting last 6 June. 

The Commission en banc particularly greenlighted the registration statement of the company covering 360,000 common shares — subject to its compliance with certain remaining requirements. 

The company, doing business under the name and style of Premier Medical Center Zamboanga, will offer 3,600 blocks composed of 15 shares per block, with a price ranging from P150,000 to P400,000. 

P997-M proceeds projected

ACE-MCZ expects to net P997.51 million from the offer, which will be used to finance the construction of its hospital and purchase of medical equipment, payment of loans, and pre-operational and operational expenses. 

The company is building a 10-story healthcare facility named Premier Medical Center Hospital with a 200-bed capacity in Barangay Tetuan, Zamboanga City. The hospital’s construction is set to be completed by the second quarter of the year.

The hospital’s shares will be traded over the counter by the hospital’s internal staff. The target market for these shares is primarily medical professionals and their families.

ACE-MCZ filed its DPO through the Commission’s Securing and Expanding Capital for Hospital Entrepreneurs (SEC HOPES) program. The program intends to enhance the medical industry’s access to capital by streamlining the registration process for public offerings specifically to finance hospital projects.