It always important to remember your roots, and that is what the Ayala Corporation in the Philippines is doing with a renewed push into healthcare. One of the first ventures of the 183 year old company was a drugstore. Nowadays the Ayala Corporation, which is looking forward to the eighth generation, has a huge investment portfolio and is looking to diversify, moving into providing healthcare services for many Filipinos.
In early February Ayala Healthcare Holdings, or AC Health, said it was taking a minority stake in Wellbridge Health, a start-up that owns online pharmacy MedGrocer.
The investment in MedGrocer is the latest in a string of healthcare-related deals the Ayala group has struck in recent years. AC Health was established in 2015 as a wholly-owned subsidiary charged with spearheading health-related expansion. It is part of a wider diversification programme being undertaken by the family run organisation to continue to sustain growth. With spending on health products in the Philippines less than Asian counterparts, it is believed that there is a greater opportunity in this area.