Ayala healthcare unit seeks further business expansion

AYALA CORP. sees growth potential in its healthcare unit AC Healthcare Holdings, Inc. as it seeks to expand its businesses across the country, an official said on Friday.

“To date, AC Health has served 1.6-million lives our goal is to touch around 24-million Filipinos by 2030. We are now gearing up for further growth,” AC Health President and Chief Executive Officer Paolo Maximo F. Borromeo said during the parent firm’s annual stockholders’ meeting.

Its generic pharmaceutical business, Generika Drugstore, plans to open an additional 50 stores this year from 750 locations across the country.

“Our goal is to reach 1,000 stores nationwide by 2025, and ensure that all Filipinos thorough the country have access to affordable and quality generic medicines,” Mr. Borromeo added.

Additionally, I.E. Medica, Inc. and MedEthix, Inc. plan to bring in more generic and biosimilar medicines for cancer, women’s health, and primary care.

“[This] will allow us to expand our local pharma cabinet to bring down treatment costs in the country,” he said.

AC Health’s hospitals and clinic group has been integrated under the Healthway Medical Network. The rebranding will be launched in phases throughout the year. It continues to expand its network toward different regions.

“The rebranding encompasses all of our multi-specialty clinics, the ambulatory and surgical center in the Philippine General Hospital, our four hospitals, and the soon-to-open cancer center,” Mr. Borromeo said.

The company plans to open three new clinics in Cebu, Cagayan de Oro, and Davao, which will bring its total network to 15 outpatient centers and 200 corporate branches.

“As we continue to build our ecosystem, we will leverage the synergies within our network to deliver quality and affordable healthcare for all,” he added.

Meanwhile, Mr. Borromeo said that the company has invested about P10 billion to date. For the year, the company has allocated P7 billion in capital expenditures.

He said that going public is not part of AC Health’s roadmap as it still has sufficient capital from its parent company.

On Friday, Ayala Corp. shares rose by 0.95% or P6 to close at P639 apiece. — Adrian H. Halili