Singapore-based investor ABC Impact has acquired a 16-percent stake in AC Health, a healthcare unit of conglomerate Ayala Corp, the companies announced Monday.
The investment marks ABC Impact’s first entry into the Philippine healthcare sector. The firm, which is backed by Temasek Trust and Temasek, will provide primary capital to support AC Health’s expansion.
AC Health, which aims to build an integrated healthcare ecosystem, plans to use the new funds to grow its network of hospitals, clinics and pharmacies. The company’s goal is to expand to at least 10 hospitals, 300 clinics and 1,150 pharmacies by 2027.
“This partnership marks a significant milestone in AC Health’s journey,” said Paolo Borromeo, AC Health president and chief executive.
“ABC Impact’s investment reinforces the strength of our integrated model and our commitment to making healthcare more inclusive,” said Borromeo.
The partnership will allow AC Health to leverage ABC Impact’s regional expertise and network. The Singaporean firm has existing healthcare investments in India, China and Vietnam.
“Healthcare is a fundamental human need, and this partnership with Ayala and AC Health reflects our mission to improve lives by advancing access to quality care,” said David Heng, chief executive of ABC Impact.
The investment also strengthens the long-standing relationship between the Ayala Group and the Temasek ecosystem.
BofA Securities was the exclusive financial advisor to AC Health for the transaction. The investment is subject to the satisfaction of closing conditions.
