The Ayala group has expanded its footprint in the healthcare space by investing in MedGrocer, a local start-up ePharmacy service provider.
In a disclosure to the Philippine Stock Exchange on Thursday, Ayala Corp. said its wholly-owned unit Ayala Healthcare Holdings Inc. (AC Health) had invested in Wellbridge Helath Inc., owner and operator of MedGrocer.
Medgrocer is an ePharmacy and medicine benefits management service licensed by the Food and Drug Administration (FDA). It enables customers to order medicine online and delivers these directly to them. This is a local start-up firm founded by Harvard-educated entrepreneur Jerome Uy.
“The investment is part of AC Health’s overall strategy to increase accessibility and affordability in healthcare,” Ayala said in a disclosure.
“AC Health seeks to seed disruptive healthcare solutions that improve efficiency and integration,” the disclosure added.