MANILA, Philippines — Ayala Corp. announced Friday its health unit will take over Healthway Philippines, one of the leading clinic networks in the country.
In a disclosure to the stock exchange, the country’s oldest conglomerate said its wholly-owned subsidiary Ayala Healthcare Holdings acquired 100% of Healthway from Hong-Kong based HKR International Limited.
The addition of Healthway’s seven mall-based clinics and 40 corporate clinics expands AC Health’s clinic portfolio, which today includes 70 FamilyDOC community-based primary care clinics and 10 corporate clinics.
“Healthway is an excellent fit and is extremely complementary to our portfolio,” AC Health President and CEO Paolo Borromeo said.
“Apart from growing our clinic count and patient base, this acquisition also allows us to serve different types of patients across multiple clinic formats,” Borromeo added.
Since it began operations in 1998, Healthway has served over 2 million patients and has a network of around 800 doctors across different specialties.
AC Health’s acquisition of Healthway came after it recently obtained a minority stake in IE Medica, a major pharmaceutical importer, and MedEthix, its affiliated distribution company.
Borromeo said AC Health is finalizing a joint-venture partnership with an international cancer center operator for their specialty cancer hospital, which is scheduled to open in 2022.
“We are still looking to grow our portfolio further, particularly in retail pharma, financing, and hospitals,” he said.