AC Health, the healthcare arm of Ayala Corp., plans to spend another P10 billion to acquire more hospitals and expand its medical clinics across the country.
Healthway Medical Network president and chief executive Jaime Ysmael said his group, which handles the hospitals and clinics of AC Health, is looking at possible acquisition of two to three hospitals.
Ysmael said that depending on the structure partnership, the planned acquisitions will would “chunky investments” and should have a clear path for the company to eventually acquire a majority stake at some point.
Ysmael said AC Health had fully utilized the P10 billion capital spending allocated by the Ayala Group in the past eight years and was requesting for additional P10 billion to further expand its footprint.
He said that aside from acquisitions, Healthway was also mandated to upgrade existing hospital facilities and clinics.
“That is how committed Ayala Corp. and AC Health to the healthcare space, giving us additional capital to modernise existing facilities,” Ysmael said.
AC Healthway operates seven hospitals including the newly opened Healthway Cancer Care Hospital and management tie-up with FEU-NRMF with combined 900 bed capacity.
It also owns seven health clinics.
Healthway plans to open three more multi-specialty centers in Cebu, Cagayan de Oro and Davao, expanding the Healthway Medical Network to 15 outpatient centers by end-023.
It recently signed a partnership with Knots Development Corp. to manage the resort clinics of El Nido Resorts and establish a primary care and wellness clinic in Lio to help address the healthcare needs of El Nido tourists and its growing population.
“This is in line with government thrust to provide medical facilities in resort settings. So, we will start with El Nido which will serve not only tourists in the area but the community as well,” Ysmael said.