MANILA, Philippines — AC Well being, the healthcare arm of the Ayala Group, has secured what it known as a “landmark funding” from Singapore-based affect investor ABC Impression, a agency backed by Temasek Belief and Temasek.
In an announcement Monday, AC Well being stated ABC Impression will purchase an roughly 16% minority stake by way of a major capital infusion.
The capital will fund AC Well being’s growth plans, which embrace rising its community to at the very least 10 hospitals, 300 clinics and 1,150 pharmacies by 2027.
ABC Impression, which has healthcare investments in India, China and Vietnam, stated there are alternatives to share information and collaborate in enhancing AC Well being’s built-in care mannequin within the Philippines.
Paolo Borromeo, president and CEO of AC Well being, stated ABC Impression’s funding is a nod to its “built-in mannequin” and goals for a extra inclusive healthcare.
First enterprise into Philippine healthcare. The deal marks ABC Impression’s first direct entry into the Philippine healthcare market.
Its earlier investments embrace Kim Dental, Vietnam’s largest non-public dental care community; DCDC Kidney Care, a dialysis supplier in India; and HiRo, a medical analysis group working within the Asia-Pacific and the US.
“We’re honored to increase our relationship with Temasek and Temasek Belief, and welcome ABC Impression as a accomplice in our healthcare journey,” Fernando Zobel de Ayala, chairman of AC Well being and board director of Ayala Corp, stated in a information launch.
The transaction’s completion is topic to plain closing circumstances. BofA Securities served as AC Well being’s unique monetary adviser for the deal.
