LISTED Centro Escolar University (CEU) is keen on
expanding its education business with planned acquisitions and a new
education facility in Cebu City.
In a press briefing with reporters on Tuesday, CEU president Maria
Cristina Padolina revealed that the company is interested in acquiring a
Metro Manila-based hospital to complement its health and science course
offerings.
She said while CEU is
not in any active talks for the proposed acquisition, the company is
targeting a tertiary hospital with at least 50 beds.
“A
hospital would be a good complement to our health sciences program,”
Padolina said. “We will use it largely for education purposes.”
About
60 percent o CEU’s 21,000-strong student population is taking health
and science courses such as pharmacy, medical technology and dentistry.
These courses, along with tourism and IT-management, have help offset
the slowdown in demand for nursing courses, Padolina said.
CEU
is also planning to build a facility in Cebu City starting next year to
cater to students taking post-graduate studies. She said the new
campus, which would be CEU’s fifth, will need an initial investment of
P50 million.
CEU is also open to a possible expansion in Mindanao, she said. The company operates campuses in Makati, Manila and Bulacan.
Net
income in the six months of its fiscal year ending September declined
3.66 percent to P115.42 million as revenues slid 1.6 percent to P631.38
million on lower tuition earnings. This, despite the increase in tuition
at an average of 3 percent this year.
Shares of CEU, which is controlled by businessman Emilio Yap, rose 5.26 percent to P10.
(Miguel R. Camus)
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