Fruitas backs out of healthcare venture
Fruitas Holdings, Inc., the country’s leading small footprint food and beverage store operator, has terminated its discussions to acquire Surehealth Multi-Specialty & Diagnostic Clinic Corporation.
In a disclosure to the Philippine Stock Exchange, the firm said “Management recognized concerns that this may become a distraction from pursuing opportunities in its core food and beverage retail business.”
“With the decision to terminate discussions to acquire Surehealth Clinic, management is reinforcing its commitment to focus resources to take advantage of the expected recovery and harnessing the significant growth potential of its foodservice business,” it added.
In particular, Fruitas said it will continue to enhance the accessibility of its products, both through physical and digital channels.
It will also carry on the expansion of its community store network, with emphasis on Balai Pandesal which it recently acquired.
The acquisition would have marked Fruitas’ entry into the medical and diagnostic clinic sector within the healthcare industry with the aim of taking advantage of the growing demand for healthcare services in the Philippines.
Surehealth is a private medical and diagnostic clinic established in 2007. Over the years, Surehealth has created strong relationships with corporations within the airline support services, construction, and logistics industries by servicing medical pre-employment, executing annual physical examinations, and performing medical laboratory tests for its clients’ workforce.
“Surehealth is Fruitas’ health service provider throughout this COVID-19 pandemic. With Surehealth’s services, Fruitas has not had a single case of local transmission and had zero COVID-19 casualty since day one of the pandemic,” said Fruitas President and CEO Lester Yu.