Ayala Healthcare Holdings Inc., a unit of the Ayala Group, said Friday it completed the acquisition of a majority stake in Mercado General Hospital Inc. which owns and operates a chain of hospitals and clinics across the country.
Ayala Health said the purchase was made through subsidiary Healthway Philippines Inc., which acquired shares from White Knight Holdings Inc., a wholly-owned subsidiary of Ayala Land Inc. and other shareholders.
Ayala Health did not disclose the acquisition cost.
MGHI owns and operates the QualiMed Health Network, which includes four hospitals—QualiMed Sta. Rosa in Nuvali, QualiMed San Jose Del Monte in Bulacan, QualiMed Iloilo in Iloilo City and Daniel O. Mercado Medical Center in Tanauan, Batangas.
QualiMed also operates an ambulatory surgical center at UP-PGH and has clinics in Makati, Quezon City and Cebu IT Park.
QualiMed also introduced Jaime Ysmael, who formerly headed Ortigas Land Corp., as its new president and chief executive.
“The addition of QualiMed into the AC Health network comes at an opportune time, now that health has become top of mind for all of us. QualiMed helps complete AC Health’s service delivery network by providing healthcare at the tertiary level, and by expanding its portfolio of specialty clinics,” Ysmael said.
The acquisition will boost AC Health’s clinics and hospitals portfolio which includes 85 outpatient clinics and 80 corporate clinics under the Healthway brand and the country’s first specialty cancer hospital, which is set to open in 2023.
The agreement was signed on Feb. 26, 2021 between HPI led by AC Health president and chief executive Paolo Borromeo, QualiMed’s founding president and chief executive Dr. Edwin Mercado and Alfonso Javier Reyes of Ayala Land.
“We are excited and honored to be part of the AC Health family. Over the years, we have worked hard to establish the QualiMed Health Network as a trusted provider of affordable and accessible healthcare. We are also excited to develop synergies with the AC Health family, including a stronger pharma supply chain, digital integration and our upcoming COVID-19 vaccination program” said Mercado.