Ayala Group acquires 50% stake in PH drugstore chain Generika

Visual from the company website.

The Ayala Group has ventured into the affordable generic medicines business in the Philippines by buying a 50 per cent stake in Generika Drugstore, a local franchising healthcare firm with over 500 stores nationwide.

Ayala Corporation’s subsidiary, Ayala Healthcare Holdings Inc had earlier signed the agreement for the acquisition of Generika, from the family of Julien Bello.

The size of the deal was not disclosed.

Bello, together with Generika co-founder Teodoro Ferrer and his group, will continue to hold the remaining 50 percent ownership in Generika. Ferrer shall continue to serve as the president and chief executive officer of the group.

Ayala Corp noted the value of the acquisition was less than 10 per cent of Ayala’s book value.

Mabuhay Capital served as financial advisor to Bello’s group in its transaction with Ayala Healthcare.

Also Read: PH’s Ayala Group sets $4.1b as capex for this year

Ferrer joined Bello in establishing Generika in 2003 after working over 30 years with Ayala Group of companies. Their goal was to provide option for Filipinos who cannot afford to complete their medication due to the prohibitive cost of branded medicines.

Ayala president and chief operating officer Fernando Zobel de Ayala said they are looking forward to help address gaps in affordable retail healthcare in the country.

“We believe this is an excellent platform for Ayala to reinvent the space and it will serve as foundation for our emerging healthcare portfolio,” Zobel said. “With the combined strengths and management capabilities of Ayala and Generika, we believe we can raise the level of efficiency and accessibility of this platform to better serve Filipino families by providing a wide range of quality medicines at affordable prices.”

Also Read: PH health tech startup mClinica picks up equity stake in Medix

The Ayala group ventured into the healthcare sector last year through QualiMed, which is Ayala Land Inc’s chain of hospitals and satellite clinics, in partnership with the Mercado medical group.

Ayala Corporation’s last trading price decreased 0.13 per cent or P1.00 to close at P767.

Also Read:

Ayala Land raises $356m in private placement

PH’s Ayala Land surfaces as 9% anchor investor in MY’s MCT

Ayala Land to raise $246.8m via loan deals

PH based real estate co Ayala Land acquires Aegis in a $9.7m share buyout

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.