By Matthew Go
PHINMA Education Holdings Inc., the country’s largest private higher education network, has acquired a 94.64-percent stake in St. Jude College Dasmariñas, Cavite (SJCDC), for P432 million.
The transaction, completed on December 6 and disclosed on December 9, adds 3,000 students to PHINMA Education’s network, which now totals 167,000 enrollees. SJCDC is PHINMA Education’s 10th school in the Philippines and 12th in the region, including Horizon Education in Indonesia.
“SJC Dasmariñas Cavite continues our thrust to make education as accessible as possible to underserved youth,” said Happy Tan, PHINMA Education country chief for the Philippines. “Our newest school expands PHINMA Education’s presence in Southern Luzon and nearby regions.”
St. Jude College, established in 1950 as Saint Jude Maternity Clinic by Dr. Ramon Atienza and Dr. Felicidad Calip-Atienza, became a general hospital in 1975 and launched its School of Nursing in 1968. Its Dasmariñas campus, established in 1999, offers programs ranging from preschool to graduate studies.
This is PHINMA Education’s first acquisition since receiving investment from private equity firm KKR in May 2024.
“We will continue growing our network as we find more ways to reach learners that need education the most,” said Dr. Chito Salazar, PHINMA Education president and CEO.
PHINMA Education, founded in 2004, operates schools in the Philippines including PHINMA Araullo University, PHINMA Republican College, PHINMA Cagayan de Oro College, PHINMA University of Pangasinan, PHINMA University of Iloilo, Southwestern University PHINMA, PHINMA Rizal College of Laguna, and PHINMA Union College of Laguna. Its regional venture is Horizon Education in Indonesia.
Enrollment across PHINMA Education schools increased by 18 percent in the 2023-2024 school year. Revenues rose by 17 percent year-on-year to P2.4 billion, with a net income of P418 million.
PHINMA Corporation also operates in construction, real estate, hospitality, and cement manufacturing. It raised P1 billion in November through a stock rights offering, selling 50 million shares at P20 each.
“PHINMA shall continue to serve Filipino families and communities by addressing essential needs and creating a meaningful impact through its businesses and investments,” said Ramon del Rosario Jr., PHINMA Corporation chairman and CEO.
PHINMA Education has expressed openness to further acquisitions in the Philippines and abroad while enhancing the capacity of its existing schools.