Through subsidiary Metro Pacific Health Tech Corp., Metro Pacific sealed a deal to acquire KonsultaMD and combine it with its own mWell platform.
This integration will accelerate the growth and expansion of Metro Pacific’s health business, including Metro Pacific Health, which operates dozens of private hospitals such as Makati Medical Center and Asian Hospital.
mWell has about 3.1 million users, including a growing number of patients from Asia, Africa, and North America.
KonsultaMD has 2.7 million users, a significant portion of which is driven by its partnership with Globe Telecom, and an extensive network of partner doctors with deep expertise in mobile-based healthcare solutions.
Why did Ayala sell?
Ayala, which identified healthcare as a core business through AC Health, did not disclose the reasons for selling KonsultaMD.
While KonsultaMD provides healthcare services, it is not under AC Health but is owned by 917Ventures, the investment arm of Globe.
As a venture builder, 917Ventures can sell or acquire businesses in its portfolio as part of its regular business strategy.
KonsultaMD started as a health hotline in 2015 before evolving into a superapp offering 24/7 doctor consultations, diagnostics, medicine delivery, and home care services.
What happens next?
KonsultaMD will continue to operate and keep its brand under Metro Pacific’s management in the interim.
It still remains unclear whether it will eventually be integrated into the mWell brand.
Inclusive healthcare
“Progress for any country depends on a healthy citizenry,” mWell chair Pangilinan said in the statement. “This agreement represents a giant step forward towards real, immediate, and reliable care for our countrymen.”
“This acquisition supports our common vision of delivering accessible and inclusive healthcare solutions to every Filipino,” Ayala Corp. chair Jaime Augusto Zobel de Ayala said in the same statement.
Deal boosts PH healthcare
“Elevating healthcare in our country has always been a daunting task and mWell’s signing of the agreement with KonsultaMD is a decisive step to address these challenges,” said mWell president and CEO and Metro Pacific chief finance, risk, and sustainability officer Chaye Cabal-Revilla.
“By integrating our resources with KonsultaMD, we are well-positioned to provide expansive and high-quality healthcare to all Filipinos, both locally and globally,” she added.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
