Temasek, established five decades ago, is a Singapore state investment fund with over $430 billion in assets.
Under the agreement, ABC Impact will acquire a roughly 16-percent minority stake in AC Health, which is owned by Ayala Corp., the country’s oldest conglomerate.
It will infuse fresh capital to support its push toward a seamless, integrated healthcare ecosystem for Filipinos.
Management’s view
“This partnership marks a significant milestone in AC Health’s journey,” said Paolo Borromeo, president and CEO of AC Health.
“ABC Impact’s investment reinforces the strength of our integrated model and our commitment to making healthcare more inclusive,” he added.
The ties that bind
Ayala Corp. chair and business tycoon Jaime Augusto Zobel de Ayala is a board director at Temasek.
The investment fund has exposure and partnerships with Ayala Group firms, such as Globe Telecom (via Singapore Telecommunications) and ACEN, which is working with Temasek-owned GenZero and Keppel to retire a Batangas coal plant early and replace it with renewable energy.
Major healthcare push
The fresh capital will accelerate expansion across AC Health’s three core pillars, hospitals, multi-specialty clinics, and retail pharmacies, via organic growth and targeted acquisitions.
By 2027, AC Health aims to operate at least 10 hospitals, 300 clinics, and 1,150 pharmacies, building on its current footprint of 236 clinics, 880 drugstores, and six hospitals including the country’s first dedicated cancer care facility.
“We believe AC Health is well positioned to deliver meaningful social outcomes alongside sustainable growth,” said David Heng, CEO of ABC Impact.
“Through our regional healthcare experience and impact lens, we aim to support AC Health’s efforts to strengthen systems and serve more communities” he added.
First PH health sector investment
The investment also marks ABC Impact’s first direct entry into the Philippine healthcare market, adding to its regional portfolio in Vietnam, India, and China.
For the Ayala Group, the deal deepens long-running ties with the Temasek ecosystem while advancing a decade-long bet on healthcare that is now nearing profitability after P15 billion in investments.
“We are honored to expand our relationship with Temasek and Temasek Trust, and welcome ABC Impact as a partner in our healthcare journey,” said Fernando Zobel de Ayala, chair of AC Health.
—Edited by Miguel R. Camus
