1 month ago
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The Ayala Group continues to dispose of non-core businesses with the sale of its telehealth provider KonsultaMD to Metro Pacific Health Tech Corporation (mWell) so it can better focus on more promising endeavors.
The move comes after the sale of a portion its stake in GCash to Mitsubishi and the unloading of treasury shares by Zobel-led conglomerate last year.
Chinabank Capital Corporation Managing Director Juan Paolo Colet said the sale of KonsultaMD to Metro Pacific Health Tech Corporation (mWell) “makes sense for Ayala as they shed non-core businesses and focus on key growth drivers."
He added that, “The acquisition aligns with mWell’s goal to be the country’s leading integrated healthcare app.”
Rizal Commercial Banking Corporation (RCBC) Chief Economist Michael L. Ricafort said “This further solidifies and complements the dominance of MPIC in terms of its largest hospital group in the country, as well as further expansion into the digital channels on the medical or healthcare industry.”
He added that, this creates “greater economies of scale and supply chain integration, especially in the digital business where there is tremendous growth or prospects as more people adopt digital healthcare channels.”
The acquisition will also increase mWell’s “market reach and presence in the digital healthcare channels to complement its leadership in the physical hospital industry nationwide,” said Ricafort.
mWell, the pioneering digital healthcare arm of Metro Pacific Investments Corporation (MPIC), said it has entered into agreements with the Ayala Group to acquire KonsultaMD but did not disclose the acquisition cost.
However, sources said this is a cash transaction for 100 percent of KonsultaMD although the Ayala Group will continue to support both KonsultaMD and mWell even after the transfer of ownership.
mWell said this strategic move will reinforce mWell’s position as the largest and leading digital healthcare ecosystem in the Philippines.
KonsultaMD is the flagship healthcare platform of Globe’s 917Ventures. From a health hotline in 2015, it has evolved into a superapp that provides comprehensive health services including 24/7 doctor consultations, diagnostics, medicine delivery and homecare.
It currently has 2.7 million users and a vast network of partner doctors with deep expertise in mobile-based healthcare solutions.
The acquisition is highly complementary to mWell’s existing business offerings. As the only health and wellness app with an established digital health ecosystem, it brings together consultations and wellness resources both for physical and mind health for its 3.1 million users.
Its global reach includes more than 90,000 users from across Asia, South America, Africa, North America, Oceania and Europe.
This integration is poised to accelerate the growth and expansion of MPIC’s health business, including Metro Pacific Health.
mWell said KonsultaMD will continue to keep its brand and operate under mWell management in the interim, ensuring continued access to key services while enhancing healthcare delivery.
By uniting the KonsultaMD and mWell platforms as digital gateways, this acquisition will expand MPIC’s reach, connecting more patients to its nationwide hospital and healthcare network.
“Progress for any country depends on a healthy citizenry. This agreement represents a giant step forward towards real, immediate, and reliable care for our countrymen,” said mWell Chairman Manuel V. Pangilinan.
Ayala Corporation Chairman Jaime Augusto Zobel de Ayala said “This acquisition supports our common vision of delivering accessible and inclusive healthcare solutions to every Filipino.”
“Bringing together the power of mWell’s digital ecosystem and KonsultaMD’s comprehensive services and expansive reach will ultimately benefit Filipino consumers. This synergy will help us more swiftly achieve our shared goal of providing healthcare for all,” said Globe President and CEO Ernest Cu.
mWell President and CEO and MPIC Chief Finance, Risk, and Sustainability Officer Chaye Cabal- Revilla said “Elevating healthcare in our country has always been a daunting task and mWell’s signing of the agreement with KonsultaMD, is a decisive step to address these challenges.”
“This purposeful action underscores our commitment to support Universal Health Care in making lasting impacts, particularly in underserved communities throughout the Philippines. By integrating our resources with KonsultaMD, we are well-positioned to provide expansive and high-quality healthcare to all Filipinos, both locally and globally," she added.
KonsultaMD CEO Beia Latay noted that, “This marks an exciting new chapter for KonsultaMD. By combining our expertise with mWell’s powerful digital health ecosystem, we are set to bring even greater innovations to telehealth.
KonsultaMD will continue to be the trusted platform our users know and love—now with even more ways to deliver quality, accessible, and seamless healthcare.”
With this acquisition, mWell solidifies its leadership in the rapidly evolving digital health space, combining the strengths of both platforms to create the country’s most robust, patient-centric, and technology-driven healthcare network.
By leveraging KonsultaMD’s extensive subscriber base and telemedicine expertise alongside mWell’s comprehensive digital health ecosystem—including online consultations, e-pharmacy, and AI-powered health management—more Filipinos will have greater access to affordable, high-quality, and seamless healthcare services.
