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Ayala Healthcare Holdings Inc. (AC Health), a unit of Ayala Corp., is expanding its footprint in the Visayas by acquiring a majority stake in the 200-bed Cebu Velez General Hospital (CVGH).
AC Health said in a statement that it has entered a strategic partnership with CVGH to help usher the trusted hospital into its next phase of growth.
This partnership comes after AC Health closed a landmark investment from Singapore-based ABC Impact, which committed to subscribe to a 16 percent minority stake in AC Health.
AC Health enters strategic partnership with Cebu Velez General Hospital: (L-R) James Velez Ting, Assistant Hospital Administrator of CVGH; Ma. Nona Velez, Director of CVGH; Dr. Carmen Velez, President & Administrator of CVGH; Paolo Borromeo, President and CEO of AC Health; Jaime Ysmael, President and CEO of Healthway Medical Network; Margaret Bengzon, Chief Network & Business Development Officer, Healthway Medical Network.
With the fresh capital, AC Health seeks to expand its network to at least 10 hospitals, 300 clinics, and 1,150 pharmacies by 2027. AC Health’s acquisition of CVGH brings Ayala’s healthcare unit closer to this target.
Under the agreement with the Velez family, AC Health, through its provider arm Healthway Medical Network, will acquire a majority stake in CVGH, a 200-bed Level 3 hospital located in Cebu City.
This partnership marks a significant milestone for both organizations, underscoring their shared vision of transforming health for every Filipino.
“For more than 70 years, CVGH has served generations of Cebuanos with patient-centered care and medical excellence. Partnering with AC Health allows us to strengthen this legacy while expanding our reach and capabilities,” said H Assistant Administrator James Velez Ting.
He added that, “We are excited to be part of AC Health’s growing network and to serve our patients and communities in new and meaningful ways.”
Starting as a small clinic in 1947, CVGH has grown into one of Cebu’s most reputable hospitals, known for its roster of distinguished medical professionals and its tradition of delivering quality patient care.
AC Health President and CEO Paolo Borromeo emphasized the importance of this partnership to the company’s long-term vision.
He noted that, “AC Health is committed to our vision of transforming health for every Filipino, and this partnership with CVGH brings us closer to that goal.
“Cebu is an important market for us at AC Health, and we are deeply grateful to the Velez family for their trust and confidence as we work together to build on CVGH’s legacy of excellent healthcare.”
