MANILA, Philippines – AIA Philippines said it had completed its acquisition of MediCard Philippines Inc., one of the leading Health Maintenance Organizations (HMOs) in the country.
The acquisition was completed after receiving all necessary regulatory approvals from the Insurance Commission (IC) and the Philippine Competition Commission (PCC).
Kelvin Ang, AIA Philippines chief executive officer, said: “With AIA Philippines and MediCard coming together, we will be in the best position to capture opportunities that will help us remain the leading brand that addresses the protection, long-term savings, and healthcare needs of Filipinos. This will go a long way toward the fulfillment of our purpose of helping more people live healthier, longer, better lives.”
Medicard clinic
Dr Nicky Montoya, MediCard’s president and chief executive officer, said: “We are excited at the work ahead as part of AIA Philippines, where we will be able to further expand our propositions, allowing us to address the ever growing needs of our customers. Filipinos can expect MediCard to provide broader, more efficient and more effective health coverage and care services in the future.”