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CVC Capital set to take control of The Medical City
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SEC lacked jurisdiction to rule on fraud claims in takeover of The Medical City CA By VIRGIL LOPEZ, GMA News
Published February 18, 2021 8:58pm The Court of Appeals (CA) has ruled that the Securities and Exchange Commission (SEC) had no authority to decide on allegations of fraud in the takeover of The Medical City (TMC). In a ruling dated February 11, the CA Special 15th Division said the matter should be decided by the trial court as it partially granted the petitions filed by the groups that had acquired a substantial stake in the Professional Services Inc. (PSI), which operates TMC’s hospitals and clinics nationwide.
Published February 4, 2021, 1:00 PM
There’ll be no argument when I say that 2020 was a very extraordinary year. Extraordinary for the wrong reasons; but insofar as it’s being unusual, I’m certain most will agree with me. For hospitals, medical centers, and the health care professionals and workers; they were the battlefront, the trenches, the front-liners of our war against the COVID pandemic that gripped almost all corners of the world.
At the center of our COVID response, avoiding nosocomial infections, while still attending to cases of a non-COVID nature; The Medical City was often stretched to breaking point. But thanks to a dynamic and unique service philosophy, and the responsive leadership of its current President and CEO, Dr. Eugenio F. Ramos, The Medical City more than lived up to its slogan and value proposition of ‘Where Patients Are Partners’.