MANILA, Philippines — Ayala Land Inc. is breaking into the hospital business to be able to integrate the offering of medical facilities in its mixed-use communities.
ALI announced late Monday that it had entered into an agreement to acquire Whiteknight Holdings, Inc. (WHI), a company which is wholly owned by the Mercado family and a 33 percent equity stockholder of Mercado General Hospital, Inc. (MGHI).
The acquisition of WHI will allow Ayala Land to build a strategic partnership with the Mercado group and support MGHI’s future growth, the statement said. It was pointed out that MGHI has plans to expand to other places in the country where Ayala Land has a presence or plans to operate.
“This partnership will accelerate the provision of medical facilities in our new and existing integrated, mixed-use communities,” said Ayala Land president and CEO Antonino Aquino.
“Together with our traditional residential, office, shopping center and hotel products, the new medical facilities will further enhance and complete our communities, making them the center of development in their region.”
An upcoming player in the health care industry, MGHI currently owns and operates hospitals and ambulatory surgical centers in Batangas, Cebu and Manila, and is setting up one more facility in Iloilo.
“The partnership will allow us to realize our vision of making quality health care accessible to more Filipinos,” said Edwin Mercado, president and CEO of WHI.