Ayala unit invests in online medicine store
Ayala Healthcare Holdings, Inc. (AC Health), a subsidiary or conglomerate of Ayala Corporation, has invested in an early stage startup firm that allows customers to order medicine online and have these delivered directly to them.
In a disclosure to the Philippine Stock Exchange, Ayala said AC Health has invested in Wellbridge Health, Inc. which owns and operates MedGrocer, an FDA-licensed ePharmacy and medicine benefits management service.
Ayala said “the investment is part of AC Health’s overall strategy to increase accessibility and affordability in healthcare. AC Health seeks to seed disruptive healthcare solutions that improve efficiency and integration.”
“The investment of AC Health into MedGrocer fits well with both our pharmacy and health tech aspirations,” said AC Health Chief Executive Officer Paolo F. Borromeo.
He noted that, “on the pharmacy side, we are exploring new ways to reach the consumer and deliver affordable medicine; on the health tech side, we are looking to build a portfolio of innovative technology solutions across the continuum of care.”
MedGrocer’s online platform allows patients to compare prices and obtain essential information for their medications prior to purchase.
All medicine are FDA-certified, and transactions are verified by a licensed pharmacist. In addition to serving individuals, MedGrocer also provides medicine for the clinics of their corporate clients.
“We share the mission of providing quality medicines conveniently and affordably to consumers by using technology to eliminate the inefficiencies and assumptions that hinder pharma retail,” said MedGrocer CEO and Founder Jerome Uy.
MedGrocer joins AC Health’s portfolio of companies, which includes Generika, a retail pharmacy chain, and FamilyDOC, a new chain of primary care clinics.
Generika has over 670 stores nationwide, while FamilyDOC has six clinics located across Cavite and Las Piñas. AC Health aims to expand this network to 1,000 Generika stores, and 100 FamilyDOC Clinics by 2020.
MedGrocer is envisioned to complement AC Health’s existing portfolio, as well as provide new opportunities for synergies across the broader Ayala group.
“The partnership with MedGrocer signals AC Health’s commitment to invest in technologies that strengthen its portfolio, and redefine healthcare,” Ayala said.