Ayala Corp acquires 75% of Negros Grace Pharmacy

MANILA, Philippines — Ayala Corp., the country’s oldest conglomerate, is expanding its health portfolio with the acquisition of 75 percent of Negros Grace Pharmacy Inc.

In a disclosure to the Philippine Stock Exchange (PSE), Ayala said its health subsidiary Ayala Healthcare Holdings Inc. (AC Health) entered into a share purchase agreement with Jasminum Corp. for the proposed acquisition.

“This transaction enables AC Health to expand its portfolio in pharmacies, particularly in the Visayas region,” AC Health said.

Negros Grace, based in Bacolod City and founded in 1971, owns and operates over 70 drugstores across Central and Western Visayas.

AC Health has been expanding and investing in various companies and related sectors.

Just last October, the company invested in AIDE, a home health application that provides health services in patients’ homes.

Through the AIDE mobile app, patients can book doctors, nurses and other medical professionals to render healthcare services in their homes.

Services include medical consultations, nursing care, physical therapy, caregiving, lab extraction and interpretation and even veterinary care.

The move is in line with the company’s vision to improve access to affordable and quality healthcare services for more Filipinos.

Earlier this year, AC Health also established its health technology arm Vigos, which develops its own products, such as an electronic medical records and clinic information system (Vigos EMR).

Last year, AC Health also invested in an FDA-licensed online pharmacy, MedGrocer, which offers medicine delivery and corporate medicine benefits management.

AC Health and AC Education mark Ayala’s foray in businesses with social impact. These relatively newer businesses are seen complementing Ayala’s core businesses such as real estate through Ayala Land, banking through BPI,  telecommunications through Globe and water through Manila Water.