AC Health completes acquisition of QualiMed Health Network
Ayala Healthcare Holdings, Inc. (AC Health) through Healthway Philippines, Inc. (HPI), has completed its acquisition of a majority stake of Mercado General Hospital Inc. (MGHI) through the purchase of shares from White Knight Holdings, Inc., a wholly owned subsidiary of Ayala Land, Inc. and other shareholders. MGHI owns and operates the QualiMed Health Network, which includes 4 hospitals: QualiMed Sta. Rosa located in Nuvali, QualiMed San Jose Del Monte in Bulacan, QualiMed Iloilo in Iloilo City, and Daniel O. Mercado Medical Center in Tanauan, Batangas. In addition, QualiMed also operates an ambulatory surgical center in UP-PGH, and has clinics in Makati, Quezon City and in Cebu IT Park.
The agreement was signed on February 26, 2021 between HPI, led by Paolo Borromeo, AC Health President and CEO, Dr. Edwin Mercado, QualiMed’s founding President & CEO, and Alfonso Javier D. Reyes, representing Ayala Land, Inc.
From L – R Standing: Ruby P. Chiong, CFO of AC Health, Jimmy E. Ysmael, Incoming President and CEO of QualiMed, Sol Mercado, VP for Marketing of QualiMed, Susan Lat, Board Member of QualiMed
From L- R Seated: Alfonso Javier Reyes, President and CEO of ALI Capital, Paolo F. Borromeo, President and CEO of AC Health, Dr. Edwin Mercado, Founding President and CEO of QualiMed, Dr. Edwin Lim, Board Member of QualiMed
QualiMed also introduced its new President and CEO, Jaime “Jimmy” E. Ysmael, who was formerly the President and CEO of Ortigas Land Corporation. Jimmy previously held the position of Senior Vice President and Group Chief Financial Officer of Ayala Land, Inc., and was a Managing Director of Ayala Corporation.
“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. We have big ambitions for QualiMed. This year our focus will be on integration to drive QualiMed’s clinical, operational and financial performance, building on the strong foundation established under Dr. Mercado’s leadership” said Jimmy Ysmael, newly appointed President and CEO of the QualiMed Health Network
With this acquisition, AC Health’s clinics and hospitals portfolio will now include QualiMed’s four general hospitals, more than 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.
“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. This is a common vision that we share with AC Health, and we look forward to becoming even stronger now that we are part of a broader healthcare ecosystem. 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 Dr. Edwin Mercado, founding President and CEO of the QualiMed Health Network.
The QualiMed Health Network will be housed under Healthway Philippines, Inc. (HPI) along with the family, multi-specialty, and corporate clinics, and the specialty cancer hospital.