Centro Escolar University (CEU), one of the country’s leading universities, has established a new subsidiary that would serve as its vehicle for healthcare-related ventures.
Based on documents obtained from the Securities and Exchange Commission (SEC), newly-incorporated Centro Escolar University Hospital Inc. has an authorized capital stock of P1 billion.
At least 25 percent or P250 million of the company’s authorized capital stock has been subscribed and at least 25 percent of the subscribed amount has already been paid in cash by shareholders of the company.
CEU, the single biggest shareholder, subscribed to P249.89-million worth of shares and has paid P62.47 million. Other shareholders include Dr. Emilio T. Yap, Dr. Jesus Y. Perez, Jr., Dr. Teodora D. Tan, Dr. Emil Q. Javier, Dr. Ma. Cristina D. Padolina, Dr. Ricardo F. de Leon, and Corazon M. Tiongco.
The primary purpose of Centro Escolar University Hospital is to establish, maintain, and operate a hospital, medical, and clinical laboratories and such other facilities that shall provide healthcare or any method of treatment for illnesses or abnormal physical or mental health in accordance with advancements in modern medicine and to provide education and training facilities in the furtherance of the health-related professions.
CEU, an institution of higher learning established in 1907 by Librada Avelino and Carmen de Luna, was first incorporated in 1932. A publicly-traded firm, CEU caters to the B-C class of the population.
CEU offers comprehensive training and development through its wide variety of college and graduate courses in the fields of Commerce, Science and the Arts, such as Dentistry, Optometry, Music, Public Administration and Education.
Ten of CEU’s programs in Mendiola and four in Malolos are enjoying level 3 accredited status while five programs in Mendiola are on Level 2 accredited status. These programs have been accredited by the Philippine Association of Colleges and Universities Commission on Accreditation (PACU-COA) and the Philippine Accrediting Association of Schools, Colleges and Universities (PAASCU).
A quarterly report submitted to the SEC showed CEU earned P236.03-million in net income for the nine months ended December 31, 2007, up almost 20 percent against the same period in 2006. Its gross revenues, on the other hand, stood at P972.44 million, versus P887.20 million in the previous year.
CEU operates in three geographical segments Mendiola, Malolos and Makati campuses.
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