Ayala Corp. said unit Ayala Healthcare Holdings Inc. (AC Health) has invested in pharma importer IE Medica and MedEthix.
The agreement involved AC Health acquiring minority stakes in both companies. This was signed last November 12 by IE Medica’s principals, Vasant and Monaliza Salian, and AC Health’s leadership team led by Fernando Zobel de Ayala, chairman; Paolo Borromeo, president and chief executive officer; and Josette Abarca, chief finance officer.
IE Medica and MedEthix, founded by the Salians in 2006 and 2009, respectively, import and distribute a wide range of medicines including generics and innovative drug delivery systems.
The company has since grown to become a key player in the pharmaceutical industry and has established its presence across various therapeutic areas.
Ayala said the investments in IE Medica and MedEthix will allow AC Health to vertically integrate its pharmaceutical portfolio, and further strengthen the supply chain for its network of over 800 Generika pharmacies and 70 FamilyDOC primary care clinics.
“In the future, this partnership will also allow AC Health to offer more affordable medicines at its cancer hospital, which will open in 2022,” it added.
Ayala said the investment is timely given the forthcoming signing of the Executive Order for Maximum Drug Retail Price.
“Other regulatory changes are expected to be implemented in line with the Universal Health Care Act and the National Cancer Control Act,” it said.
