Ayala group expects to close KonsultaMD sale this month
THE AYALA GROUP expects to finalize the sale of its telehealth platform, KonsultaMD, to Pangilinan-led Metro Pacific Health Tech Corp. (mWell) by the end of the month, according to the president of Ayala Healthcare Holdings, Inc. (AC Health).
“We hope to close it by the end of the month,” AC Health President and Chief Executive Officer Paolo Maximo F. Borromeo told reporters last week.
Earlier this month, mWell signed an agreement to acquire KonsultaMD, the telehealth subsidiary of Globe’s corporate venture builder, 917Ventures, under the Ayala group. mWell serves as the digital healthcare arm of Metro Pacific Investments Corp. (MPIC).
Mr. Borromeo said AC Health will continue collaborating with KonsultaMD and mWell, clarifying that it is not entirely divesting from the telehealth platform.
The integration of KonsultaMD and mWell is expected to strengthen MPIC’s healthcare network by connecting more patients to its nationwide system of hospitals and medical providers.
Following the acquisition, KonsultaMD will retain its brand and continue operating under MPIC and mWell management.
Founded in 2015, KonsultaMD provides healthcare services, including 24/7 doctor consultations, diagnostics, medicine delivery, and home care. It currently has 2.7 million users and an extensive network of partner doctors.
Meanwhile, mWell, a health and wellness app, has 3.1 million users, including over 90,000 from Asia, South America, Africa, North America, Oceania, and Europe.
MPIC is one of the three key Philippine subsidiaries of Hong Kong-based First Pacific Co. Ltd., alongside Philex Mining Corp. and PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., holds a majority stake in BusinessWorld through the Philippine Star Group. — Ashley Erika O. Jose
