06 Dec AC Health acquires Healthway Philippines
Makati City – Ayala Healthcare Holdings, Inc. (AC Health)has acquired 100% of Healthway, one of the leading clinic networks in the country, from Hong-Kong based HKR International (HKRI) Limited, a diversified company with investmentsthroughout Asia in real estate, hospitality, and healthcare. The addition of Healthway’s 7mall-based multi-specialty 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.
The agreement was signed on December 6, 2019 between Healthway Philippines, represented by Sidney Hui, President and CEO, and the AC Health leadership team led by Fernando Zobel de Ayala, Chairman of the Board, and Paolo Borromeo, President and CEO.
“We are very pleased to welcome Healthway to AC Health and the Ayala group. The Healthway name has become synonymous with quality healthcare, and has been well-regarded among patients and medical professionals. We intend to build on this further, as we integrate Healthway with our AC Health portfolio,” said Zobel de Ayala.
“We at Healthway are very proud to join the AC Health family. Over the years, we have worked hard to establish Healthway as one of the leading and most preferred healthcare providers in the country, and we look forward to becoming even stronger now that we are part of a broader network,” said Sidney Hui, President and CEO of Healthway Philippines.
Since it began operations in 1998, Healthway has served over 2 million patients, and has a network of around800 doctors, across different specialties. It has branches in SM North EDSA, Festival Mall, Alabang Town Center, Adriatico Manila, Shangri-La Mall, Market-Market, and Greenbelt 5. Clinics offer a comprehensive range of out-patient services includingspecialty consults, imaging, laboratory, specialized diagnostics, ambulatory surgical services, dental services, and physical therapy. Healthway has also been consistently awarded by Reader’s Digest as the Most Trusted Brand of Ambulatory Clinics for 7 consecutive years.
“Healthway is an excellent fit, and is extremely complementary to our portfolio. Apart from growing our clinic count and patient base, this acquisition also allows us to serve different types of patients across multiple clinic formats, whether it be in primary care, multi-specialty care, or corporate clinics. We see many opportunities for synergy, including patient referrals, sharing of medical professionals, and integration of diagnostics and pharmacy services,” said Paolo Borromeo, President and CEO of AC Health.
The acquisition follows another recent investment, in which AC Health obtained a minority stake in IE Medica, a major pharmaceutical importer, and MedEthix, its affiliated distribution company. Borromeo said that they are also finalizing a joint-venture partnership with an international cancer center operator for their specialty cancer hospital, which is scheduled to open in 2022.
“This is an exciting time for us at AC Health. Taken together, all of these investments bring us closer to realizing our vision of an integrated healthcare ecosystem. We are still looking to grow our portfolio further, particularly in retail pharma, financing, and hospitals. Ultimately, our goal is to touch the lives of 1 in 5 Filipinos by 2030,” added Borromeo.