Ayala Healthcare Holdings, Inc. (AC Health) expanded its pharma portfolio with newinvestments into IE Medica, one of the major importers of pharmaceutical productsin the country, and MedEthix, affiliated distribution company.
The agreement, in which AC Health acquired minority stakes in both companies, wassigned on November 12, 2019 between IE Medica’s principals, Vasant and MonalizaSalian, and the AC Health leadership team led by Fernando Zobel de Ayala, Chairmanof the Board, Paolo Borromeo, President and CEO, and Atty. Josette Abarca,Chief Finance Officer.
IE Medica and MedEthix were founded by Vasant and Monaliza Salian in 2006 and2009, respectively, with the goal of importing and distributing a wide range of medicines,including generics and innovative drug delivery systems. Since then, the company hasgrown to become a key player in the pharmaceutical industry, and has establishedits presence across various therapeutic areas.
“Our investment into IE Medica and MedEthix fits well with AC Health’s overall visionto improve healthcare. The Salians have built an impressive platform, and we are happythey share in our vision to bring quality, affordable medicines to more Filipinos,”said Zobel de Ayala.
“We are honored to be part of the AC Health family, and we believe that this will usher inopportunities for synergy and growth,” said IE Medica founder, Vasant Salian.
The investments in IE Medica and MedEthix will allow AC Health to vertically integrateits pharmaceutical portfolio, and further strengthen the supply chain for its network ofover 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 cancerhospital, which will open in 2022.
“We are excited by this unique opportunity to bring together our individual strengths. By combining the expertise of IE Medica and MedEthix in sourcing and distribution, with the reach and scale of our AC Health portfolio, we will be able to bring in a wider range of affordable medicines and improve access across our network,” added AC Health President & CEO, Paolo Borromeo.
The investment is timely given the forthcoming signing of the Executive Order forMaximum Drug Retail Price (MDRP). Other regulatory changes are expected to beimplemented in line with the Universal Health Care Act and the National Cancer Control Act.