Ayala acquires 49 stake in St. Joseph Drug
AYALA Healthcare Holdings Inc. (AC Health), a wholly-owned subsidiary of diversified Ayala Corp., acquired a 49% share in St. Joseph Drug, a pharmacy chain with over 112 branches across Northern Luzon.
In a statement released on August 6, AC Health confirmed that the investment for a significant minority stake in the 66-year-old drugstore operator initially agreed upon on December 15, 2023, was finalized last month after receiving approval from the Philippine Competition Commission.
The collaboration aims to combine St. Joseph Drug’s strong regional presence with AC Health’s extensive resources to enhance healthcare accessibility.
“Integrating St. Joseph Drug into the AC Health network will bolster our pharmacy operations and improve access to affordable, high-quality medicines,” said AC Health President and CEO Paolo Borromeo.
AC Health’s portfolio includes Generika Drugstore, I.E. Medica, and MedEthix.
St. Joseph Drug president and CEO Gigi Cruz said, “We are excited to join the AC Health network. Together, we aim to explore new markets, innovate, and set new standards. We look forward to contributing to AC Health’s mission of improving healthcare for all.”
St. Joseph Drug was founded in Dagupan City in 1958 by pharmacist Jose “Pepe” Cruz and his wife Leila Lagman. (Ahikam Pasion)
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