Ayala Healthcare Holdings, Inc. (AC Health) has invested in early stage startup Wellbridge Health, Inc., which owns and operates MedGrocer, an FDA-licensed ePharmacy and medicine benefits management service. MedGrocer enables customers to order medicines online and have these medicines delivered directly to them.
The investment is part of AC Health’s overall strategy to increase accessibility and affordability in healthcare. AC Health seeks to seed disruptive healthcare solutions that improve efficiency and integration.
“The investment of AC Health into MedGrocer fits well with both our pharmacy and health tech aspirations,” said AC Health CEO Paolo F. Borromeo. “On the pharmacy side, we are exploring new ways to reach the consumer and deliver affordable medicine; on the health tech side, we are looking to build a portfolio of innovative technology solutions across the continuum of care.”
MedGrocer’s online platform allows patients to compare prices and obtain essential information for their medications prior to purchase. All medicines are FDA-certified, and transactions are verified by a licensed pharmacist. In addition to serving individuals, MedGrocer also provides medicines for the clinics of their corporate clients.
“We share the mission of providing quality medicines conveniently and affordably to consumers by using technology to eliminate the inefficiencies and assumptions that hinder pharma retail,” said MedGrocer’s CEO & Founder, Jerome Uy.
MedGrocer joins AC Health’s portfolio of companies, which includes Generika, a retail pharmacy chain, and FamilyDOC, a new chain of primary care clinics. Generika has over 670 stores nationwide, while FamilyDOC has 6 clinics located across Cavite and Las Piñas. AC Health aims to expand this network to 1000 Generika stores, and 100 FamilyDOC Clinics by 2020. MedGrocer is envisioned to complement AC Health’s existing portfolio, as well as provide new opportunities for synergies across the broader Ayala group.
AC Health is a wholly-owned subsidiary of the Ayala Corporation.
The partnership with MedGrocer signals AC Health’s commitment to invest in technologies that strengthen its portfolio, and redefine healthcare.
Ayala Corporation is one of the largest conglomerates in the Philippines with businesses in real estate, financial services, telecommunications, water, electronics manufacturing services, automotive, power generation, transport infrastructure, education, and healthcare. Its corporate social responsibility arm, Ayala Foundation, has programs that focus on education, youth leadership, sustainable livelihood, and arts and culture.
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Maria Carissa A. Alejandro