By: Patrick Villalobos, Contributor
PHINMA Education Holdings, Inc. reported its ownership of Rizal College of Laguna, Inc. after acquiring its controlling shares of stock for P449 million.
Based on the Share and Asset Purchase Agreement of both parties, the former bought all of the latter’s 300 outstanding shares priced at P1,495,871.38 each.
“Making quality education accessible to as many underserved students as possible is the driving force behind PHINMA Education,” said PHINMA Education Philippines Country Head Dr. Raymundo P. Reyes. “We are excited to welcome our Laguna students, who will benefit from being a part of our larger network that already serves 74,000 students in the Philippines alone.”
Rizal College of Laguna currently offers junior and senior high school programs, as well as undergraduate courses in education, business administration, office administration, and industrial technology.
“Whether we are operating a school in the Philippines or elsewhere in Southeast Asia, we want our graduates to be top-of-mind for employers,” he noted. “Thus we will be offering even more courses suited to the current employment landscape.”
The acquisition came at the heels of its ownership of PHINMA-Republican College in Quezon City in December 2019 as part of its Metro Manila network, which also includes PHINMA-Saint Jude College.
“We are uniquely positioned to create these networks of schools and deliver the same high standard of education across all our campuses,” the top executive said.
PHINMA Education has an 80 percent average first-time passing rate for licensure exams with some 81 percent of students getting hired a year after graduation. It has had 94 board exam top notchers since its inception in 2004.
“Education and employment, especially after this pandemic, will change radically. But we at PHINMA Education consider this a challenge to improve our Active Learning strategies and prepare our market of underserved students to succeed in the competitive job market. Our first school in Laguna is another step towards making more lives better through education,” Reyes said.
Rizal College of Laguna is the eighth academic institution that PHINMA Education has acquired in the Philippines.
Apart from PHINMA-Republican College in Quezon City and PHINMA-Saint Jude College, it also owns PHINMA-Araullo University, PHINMA-Cagayan de Oro College, PHINMA-University of Iloilo, PHINMA-University of Pangasinan and PHINMA UPANG College of Urdaneta, and Southwestern University-PHINMA.
A school in Karawang, West Java, Indonesia is also being managed by this education services subsidiary of PHINMA Corp., a Filipino-owned conglomerate with investments in education, property development, hospitality, and construction materials.