MANILA, Philippines — With telemedicine apps coming into vogue amid this pandemic, conglomerate Ayala Corp. is moving to consolidate its various healthtech units into one superapp.
In a disclosure sent to the Philippine Stock Exchange on Monday, Ayala Corp. said Global Telehealth, Inc. (KonsultaMD), HealthNow, Inc. (HealthNow) and APPPPS Partners, Inc. (AIDE) will be integrated under one superapp that is expected to be launched in the first quarter of 2023.
The KonsultaMD app provides teleconsultation services, while HealthNow offers medicine deliveries. AIDE conducts laboratory tests and home care.
These apps will be consolidated under the KonsultaMD moniker. The move will likewise haul a combined 2 million users into this superapp, the company said.
Global Telehealth Inc, KonsultaMD's parent company, has one million users and a retail network of over 50,000 outlets. HealthNow and AIDE, meanwhile, will bring in over a million registered users to the superapp.
For Luis Limlingan, head of sales at local brokerage Regina Capital, Ayala's move provides opportunities to expand the consumer base of the company's healthcare portfolio.
"KonsultaMD already has a stronghold in the teleconsultations field. Consolidating KonsultaMD, HealthNow, and AIDE Announce would promote synergies between the three's services and potentially expand AC Health's customer base," he said in a Viber message.
The disclosure explained that Globe Capital Venture Holdings, Inc, and Ayala Healthcare Holdings Inc (AC Health) through its wholly-owned subsidiary, Vigos Ventures, Inc., and Salud Interactiva S.A. DE C.V. agreed to this merger.
"This digitalization move is timely, given the increasing importance of easy-access healthcare amid the pandemic," Limlingan added.
As of market recess Monday, shares in Ayala were trading down 2.57%.