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Manila Bulletin devider Business devider The Stock Market devider AC Health completes investment in St. Joseph Drug

AC Health completes investment in St. Joseph Drug

Published Aug 6, 2024 08:14 am

Ayala Healthcare Holdings Inc. (AC Health) reported that it has completed its investment in St. Joseph Drug, officially adding the North Luzon-based pharmaceutical company to its healthcare portfolio.

In a statement, AC Health’s parent, Ayala Corporation, said the definitive agreements were signed on Dec. 15, 2023, and closed following the approval by the Philippine Competition Commission of the transaction.

Established in 1958 by pharmacist Jose “Pepe” Cruz and his wife Leila Lagman from Dagupan City, St. Joseph Drug has grown from a modest provincial drugstore into a leading regional pharmaceutical chain spanning over 112 stores across Northern Luzon.

"Our investment in St. Joseph Drug highlights AC Health’s dedication to expanding healthcare accessibility,” said AC Health President and CEO Paolo Borromeo.

He added that “integrating St. Joseph Drug into the AC Health ecosystem will streamline our pharmacy network, enhancing access to affordable and quality medicines... We eagerly anticipate growing the network and further integrating St. Joseph Drug with AC Health.”

“Together with AC Health, we will explore new markets, innovate, and set new standards for excellence. We are excited to become part of AC Health’s larger healthcare ecosystem and join in their mission in Improving Healthcare For All,” said St. Joseph Drug Chairman, President, and CEO Gigi Cruz.

AHCHI Pharma Ventures Inc. (APV) serves as the holding company for AC Health's pharmaceutical businesses. Composed of Generika Drugstore, the pioneer in generic retail pharmacies, and I.E. Medica and MedEthix, its pharma importation and distribution arms, APV now includes St. Joseph Drug.

This strategic acquisition enables AC Health to strengthen its pharma footprint and reach more Filipinos throughout the country.

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Ayala Healthcare Holdings Inc. Paolo Borromeo St. Joseph Drug
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