AC Health strengthens pharma footprint through investment in St. Joseph Drug
Manila, Philippines, December 21, 2023 – Ayala Healthcare Holdings, Inc. (AC Health) has acquired a significant minority stake in North Luzon-based pharmaceutical company, St. Joseph Drug (Joleco Resources, Inc.). The definitive agreements were signed last December 15 between St. Joseph Drug and AC Health’s pharmaceutical arm, AHCHI Pharma Ventures Inc. (APV).
IN PHOTO (L to R): Anthony L. Cruz (Director – St. Joseph Drug); Maria Eleanor L. Cruz-Valero (Corporate Secretary – St. Joseph Drug); Atty. Yet Abarca (President and CEO – APV and Generika Drugstore); Paolo Borromeo (President and CEO – AC Health); Ma. Socorro Dorotea “Gigi” L. Cruz (Chairman, President, and CEO – St. Joseph Drug); Marilene L. Cruz-Bernal (Treasurer and COO – St. Joseph Drug); Maria Catherine L. Cruz-Bangsal (Director – St. Joseph Drug); Joselito L. Cruz (Director – St. Joseph Drug)
Established in 1958 by pharmacist Jose “Pepe” Cruz and his wife Leila Lagman from Dagupan City, St. Joseph Drug has grown from a modest provincial drugstore with three employees and a 3.5-meter storefront into a leading regional pharmaceutical chain spanning over 112 stores across Northern Luzon.
"The addition of St. Joseph Drug to our portfolio is in line with our commitment to enhance accessibility and affordability of healthcare for Filipinos nationwide. St. Joseph Drug, alongside our existing retail pharma brand, Generika Drugstore, will expand our capacity and footprint to distribute quality and affordable medicine to our countrymen. Together with our pharma importation businesses IE Medica and MedEthix, we will greatly enhance synergies and efficiencies within our pharmacy platform to further improve our products and services throughout our AC Health network,” said Paolo Borromeo, President and CEO of AC Health.
Ma. Socorro Dorotea “Gigi” L. Cruz, Chairman, President, and CEO of, St. Joseph Drug also expressed enthusiasm about the partnership, stating, "This partnership with AC Health marks a significant milestone in St. Joseph Drug’s journey. We are proud to have established St. Joseph Drug as a household name in Northern Luzon over the years, and we look forward to broadening our reach with AC Health.”
AHCHI Pharma Ventures Inc. (APV) serves as the holding company for AC Health's pharmaceutical businesses. Composed of Generika Drugstore, the pioneer in generic retail pharmacies, and I.E. Medica and MedEthix, its pharma importation and distribution arms, APV now includes St. Joseph Drug. This strategic acquisition enables AC Health to strengthen its pharma footprint and reach more Filipinos throughout the country.
AC Health
Ayala Healthcare Holdings, Inc. (AC Health) is a wholly-owned subsidiary of the Ayala Corporation that aims to provide every Filipino accessible, affordable, and quality healthcare. Its portfolio includes Generika Drugstore, the pioneer in generic retail pharmacies, IE Medica and MedEthix, a major pharmaceutical importer and distributor, Healthway Medical Network, a network of multi-specialty clinics, ambulatory centers, and full-service hospitals, and KonsultaMD, a healthcare aggregator app that offers online consultations, medicine delivery, and clinic and diagnostic booking. Through its three pillars—pharma, hospitals and clinics, and digital health—AC Health creates a seamless and integrated healthcare ecosystem for the Filipino patient.
For information:
Rafa Abaya
Email: abaya.arg@achealth.com.ph
St. Joseph Drug
St. Joseph Drug (SJD) is one of the most trusted regional drugstore chains in the country today, committed to providing a wide range of high quality, safe, affordable pharmaceutical and health essential products and innovative, reliable pharmacy services. Founded as a family-owned business that originated in Dagupan City, Pangasinan, it has now evolved into 112 branches serving valued customers across North Luzon for the past 65 years. Guided by its core values and propelled by its vision and mission, the company advocates to make a significant impact on the overall health and wellness of the communities and families it serves.
For information:
Vicky T. Ugto
Email: vtugto@stjosephdrug.com