SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 

 

FORM 6-K

Report of Foreign Private Issuer 

 

Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934

 

 

**For the month of September 2009**
 

 

**Commission File Number 1-03006**

 

 

Philippine Long Distance Telephone Company
(Exact Name of Registrant asSpecified in Its Charter)

 

**Ramon****Cojuangco Building**

**Makati Avenue**

**Makati****City**

**Philippines**

(Address of principal executiveoffices)

 

 

(Indicate by check markwhether the registrant files or will file annual reports under cover Form 20-For Form 40-F.)

 

Form20-F      Ö                                  Form40-F

 

 

(Indicate by check markwhether by furnishing the information contained in this Form, the registrant isalso thereby furnishing the information to the Commission pursuant to Rule12g3-2(b) under the Securities Exchange Act of 1934.)

 

Yes                                                        No       Ö

 

 

(If "Yes" ismarked, indicate below the file number assigned to the registrant in connectionwith Rule 12g3-2(b): 82- ________ )
****
 

 

NOTE REGARDING FORWARD-LOOKINGSTATEMENTS

 

Some information in this report may containforward-looking statements within the meaning of Section 27A of the U.S.Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of1934.  We have based these forward-looking statements on our current beliefs,expectations and intentions as to facts, actions and events that will or mayoccur in the future.  Such statements generally are identified byforward-looking words such as “believe,” “plan,” “anticipate,” “continue,”“estimate,” “expect,” “may,” “will” or other similar words.

A forward-looking statement may include astatement of the assumptions or bases underlying the forward-lookingstatement.  We have chosen these assumptions or bases in good faith.  Theseforward-looking statements are subject to risks, uncertainties and assumptions,some of which are beyond our control.  In addition, these forward-lookingstatements reflect our current views with respect to future events and are nota guarantee of future performance.  Actual results may differ materially frominformation contained in the forward-looking statements as a result of a numberof factors, including, without limitation, the risk factors set forth in“Item 3. Key Information – Risk Factors” in our annual report on Form 20-Ffor the fiscal year ended December 31, 2008.  You should also keep in mind thatany forward-looking statement made by us in this report or elsewhere speaksonly as at the date on which we made it.  New risks and uncertainties come up fromtime to time, and it is impossible for us to predict these events or how theymay affect us.  We have no duty to, and do not intend to, update or revise thestatements in this report after the date hereof.  In light of these risks anduncertainties, you should keep in mind that actual results may differmaterially from any forward-looking statement made in this report or elsewhere.

 
 

 

**EXHIBITS**
 

 

 

Exhibit Number

 

Page

 

 

1

 

 

 

 

 

 

 

Copy of the press release entitled “ePLDT’s BPO Subsidiary Acquires Laguna Medical Systems, Inc.” that we filed today with the Securities and Exchange Commission and the Philippine Stock Exchange.

 

 

 

 

 

 

 

 

 

 

6

 

 

 

 

 

 

 

 

 

 

Exhibit 1

 

 

** **

   
 September 2, 2009 

 
 

 

The Philippine Stock Exchange
4th Floor PSECentre

Exchange Road, Ortigas Center

Pasig City

 

Attention:        Ms.Janet A. Encarnacion

Head,Disclosure Department

 

Ladies and Gentlemen:

 

In compliance withSection 17.1(b) and Section 17.3 of the Securities Regulation Code, we submitherewith a copy of SEC Form 17-C with a copy of a press release attachedthereto entitled “ePLDT’s BPO Subsidiary Acquires Laguna Medical Systems,Inc.”  ePLDT, Inc. is a wholly-owned subsidiary of PLDT.  

 

This shall also serve asour disclosure letter for the purpose of complying with the PSE RevisedDisclosure Rules.

 

 

Respectfully yours,

 

/s/ Florentino D. Mabasa,Jr.

FLORENTINO D. MABASA, JR.

Assistant CorporateSecretary 

 

Page 1 of 6

    

Exhibit 1

 

 

September 2,2009

 

 

SECURITIES &EXCHANGE COMMISSION

Money MarketOperations Department

SEC Building, EDSA

Mandaluyong City

 

Attention         :           DirectorJustina F. Callangan

                                    CorporationsFinance Department

 

Gentlemen:

 

Re       :           PhilippineLong Distance Telephone Company

                        SECRegistration No. PW-55

 

In accordance withSection 17.1 (b) of the Securities Regulation Code, we submit herewith three(3) copies of SEC Form 17-C with a copy of a press release attached thereto entitled“ePLDT’s BPO Subsidiary Acquires Laguna Medical Systems, Inc.”  ePLDT, Inc. isa wholly-owned subsidiary of PLDT.

 

 

Respectfully yours,

 

/s/ Florentino D. Mabasa,Jr.

FLORENTINO D. MABASA, JR.

Assistant CorporateSecretary 

 

Page 2 of 6

    

Exhibit1

 

SECURITIES ANDEXCHANGE COMMISSION

 

 

SEC FORM 17-C

 

CURRENT REPORTUNDER SECTION 17

OF THESECURITIES REGULATION CODE

AND SRCRULE 17.1

 

 

1.                 September 2, 2009 

(Date of earliest event reported)

 

2.                 SEC Identification Number  PW-55

 

3.                 BIR Tax Identification No. 000-488-793

 

4.                 PHILIPPINE LONGDISTANCE TELEPHONE COMPANY                                        

            Exactname of registrant as specified in its charter

 

5.         PHILIPPINES6. _____________ (SEC Use Only)  

           Province, country or otherjurisdiction             Industry Classification Code

of Incorporation

 

7.         9th Floor MGO Building

            Legaspicorner dela Rosa Streets, Makati City                                  1200 

     Address of principal office                                                                  PostalCode

 

8.         (632)816-8553                                           

           Registrant's telephone number, including areacode
 

9.         NotApplicable                                                               

            Formername or former address, if changed since last report

 

10.       Securitiesregistered pursuant to Sections 8 and 12 of the SRC

 

            Titleof Each Class                             Number of Shares of Common Stock

          Licensed and Amount of Debt Outstanding

Page 3 of 6

    

Exhibit 1

 

11.       Item9 – Other Events

 

Attached heretois a press release entitled “ePLDT’sBPO Subsidiary Acquires Laguna Medical Systems, Inc.”   ePLDT, Inc. is a wholly-ownedsubsidiary of PLDT.

 

 

SIGNATURE

 

            Pursuantto the requirements of the Securities Regulation Code, the Registrant has dulycaused this report to be signed on its behalf by the undersigned hereto dulyauthorized.

 

 

 

 

PHILIPPINE LONG DISTANCE

TELEPHONE COMPANY

 

 

/s/ Florentino D. Mabasa, Jr.

FLORENTINO D. MABASA, JR.

Assistant Corporate Secretary

 

 

 

Date:   September 2, 2009

 

 

 

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Page 4 of 6

    

Exhibit1

**SPi**

 

** **

**ePLDT's BPO SubsidiaryAcquires Laguna Medical Systems, Inc**

* *

*SPi Expands HealthcarePlatform by Adding Medical Coding*

*Consulting Services toIts Portfolio*

* *

*Washington**, DC**September 1, 2009*- **SPi**, a leadingglobal business process outsourcing (BPO) company, today announced that it hasacquired Laguna Medical Systems, Inc (LMS) for an aggregate purchase price ofUS $8.25 million.

 

LMShas 50+ regionally-based consultants who assist more than 200 hospitals toachieve coding and billing compliance and to optimize entitled reimbursementsfor patient services.  The 22-year-old company also offers Recovery AuditContractor (RAC) defense and recovery services to help healthcare providersmanage and defend RAC audits.   

 

PeterMaquera, President and CEO of SPi, said, "As a result of the significantfocus on healthcare reform in the US, we have been actively tracking companiesin the coding compliance space with the goal of finding one to acquire whosecorporate culture and values match our own. LMS fits the bill. Theircapabilities nicely complement our existing medical transcription, billing andrevenue cycle management services and provide an excellent, new entry point forus into this rapidly growing $25 billion industry."  Maquera went on tosay, "The inclusion of LMS’s service offerings in our Healthcare portfolioallows us to strengthen our relationships with the more than 400 hospitals,multi-specialty clinics and physician practices that we currently serve, and itincreases our Healthcare-specific employee base to more than 2,000worldwide."

 

The US healthcare industry accounts for 16% of US GDP and is the largest segmentin the US economy. With the US government now requiring healthcare providers toachieve a 95% or greater accuracy rate on medical coding, inexperiencedhealthcare providers with limited resources are expected to struggle to meetthis requirement, enhancing growth opportunities for well-funded and managedservice providers in the coding compliance consulting market.  Add to this thatthe US government’s RAC program is soon to expand from just hospitals tophysicians in all states and the rationale for entering this coding marketplacebecomes even stronger. 

 

"SPi’sacquisition of LMS is an excellent example of how we are executing on ourstrategic plan to accelerate growth and strengthen our position in the BPOarena," stated Ray C. Espinosa, President and CEO of ePLDT. Espinosa wenton to say, "Recognizing the rapid and continued growth in the healthcareindustry, we are committed to expanding our platform in this area and aredelighted to be adding another annuity-based business to our overall BPOportfolio."

 

Page 5 of 6

  Exhibit 1

 

MikeBeninato, President and CEO of SPi’s wholly-owned medical billing and revenuecycle management company, Springfield Service Corporation (SSC), said “SSC’smanagement team is equally pleased with the acquisition of LMS and looksforward to merging its service offerings with our own." He added, "Asit is becoming increasingly important for healthcare providers to significantlyimprove their efficiency while simultaneously lowering their costs, LMS’scoding, audit and compliance consulting services, along with the rest of SPi’sofferings, provide a critical set of capabilities for organizations navigatingtheir way through today’s ever-changing healthcare landscape.   We look forwardto working with LMS to integrate its offerings with ours and to achievecontinued growth and profitability together in the years ahead."

 

 

**About ePLDT**

 

ePLDT, Inc., awholly-owned subsidiary of telecommunications giant Philippine Long DistanceTelephone Company, is an information and communications technology companyproviding enabling infrastructure and services focusing on next-generationcommunications, connectivity and content to corporate clients and consumers.PLDT is listed on the Philippine Stock Exchange (PSE: TEL) and its AmericanDepository Shares are listed on the New York Stock Exchange (NYSE:PHI).

 

For more information onePLDT, visit www.epldt.com. 

** **

** **

**About SPi**

 

SPi,a wholly-owned subsidiary of ePLDT, is a leading full-service global BPOsolutions provider with offices and facilities across North America, Europe and Asia. SPi has over 7,000 employees delivering a wide range of contentoutsourcing services to diversified markets, including Healthcare, Legal, andPublishing. SPi consistently improves operating efficiency, lowers costs, andhelps to strengthen the competitive position of more than 500 clientsworldwide.

 

Formore information on SPi, visit www.spi-bpo.com.

 

*********

 

** **

**CONTACTS:**

 

**May Dizon**

SPi, Director of Global Marketing        

(632) 855 8655            

m.dizon@spi-bpo.com

Page 6 of 6

    

 

 

Signatures

 

 

Pursuantto the requirements of the Securities Exchange Act of 1934, the registrant hasduly caused this report to be signed on its behalf by the undersigned,thereunto duly authorized.

 

 

 

PHILIPPINE LONG DISTANCE

TELEPHONE COMPANY

 

 

By        :      /s/ Florentino D. Mabasa, Jr.

Name  :     Florentino D. Mabasa,Jr. 

Title     :     First Vice President, Legal Services Head and Assistant Corporate Secretary

 

 

 

 

Date:September 2, 2009