AIA Philippines has completed its acquisition of MediCard Philippines Inc., one of the leading health maintenance organizations (HMO) in the country.
AIA said in a statement yesterday the acquisition was completed after receiving all necessary regulatory approvals from the Insurance Commission and the Philippine Competition Commission.
“With AIA Philippines and MediCard coming together, we will be in the best position to capture opportunities that will help us remain the leading brand that addresses the protection, long-term savings and healthcare needs of Filipinos. This will go a long way towards the fulfillment of our Purpose of helping more people live Healthier, Longer, Better Lives,” Kelvin Ang, AIA Philippines chief executive officer, said.
“We are excited at the work ahead as part of AIA Philippines, where we will be able to further expand our propositions, allowing us to address the ever growing needs of our customers. Filipinos can expect MediCard to provide broader, more efficient and more effective health coverage and care services in the future,” Nicky Montoya, MediCard president and chief executive officer, said.
AIA earlier said with a focus on the large and fast-growing mass and emerging affluent segments, MediCard brings new products, customer segments and distribution capabilities to AIA Philippines and opens up significant new opportunities to deliver more personalized health insurance by deepening and broadening coverage across the combined customer base.
MediCard offers total healthcare services to corporations, small and medium enterprises, individuals and families.
It has sustained its leadership position attributed to its strong market presence and efforts to establish connections of its HMO card, MediCard clinics, partners and doctors nationwide to provide healthcare for Filipinos. – Angela Celis
