1 month ago
10
Richmond Mercurio - The Philippine Star
February 4, 2025 | 12:00am
MANILA, Philippines — Ayala Corp., the country’s oldest conglomerate, is hoping to seal the entry of a strategic partner in its health care unit within the year.
AC Health president and CEO Paolo Borromeo told The STAR yesterday that discussions for the sale “are in process,” but declined to provide further details.
Borromeo replied in the affirmative when asked if the group is hopeful of reaching an agreement with the potential investors this year.
Reuters had previously reported that the conglomerate is exploring the possibility of selling a minority stake in AC Health to strategic investors or partners in order to help further expand the business.
Ayala chief financial officer Alberto de Larrazabal told The STAR last year that expressions of interest were made to the group for the sale of a portion of its stake in AC Health, noting that discussions were still exploratory at the time.
Established in 2015 as a wholly owned Ayala subsidiary, AC Health aims to provide Filipinos accessible, affordable and quality health care.
The company, which is gearing up for its next stage of growth, continues to make strides in addressing significant pain points in the country’s health care sector.
Last December, Ayala secured a social loan from European bank ING amounting to about P3.1 billion (50 million euros) to support the portfolio growth of AC Health.
The loan will enable the group, through AC Health’s integrated health care ecosystem, to continue providing accessible, affordable and quality health care to all Filipinos.
Proceeds in particular are allocated to AC Health portfolio growth as well as capital expenditures for retail pharmacy and hospital, including QualiMed and Joseph Drug.
AC Health’s portfolio includes Generika Drugstore, the pioneer in generic retail pharmacies; St. Joseph Drug, a leading retail drugstore chain in North Luzon; IE Medica and MedEthix, a major pharmaceutical importer and distributor; Healthway Medical Network, a network of multi-specialty clinics, ambulatory centers and full-service hospitals; and KonsultaMD, a health care aggregator app that offers online consultations, medicine delivery and clinic and diagnostic booking.
