METRO PACIFIC HEALTH Tech Corp. (mWell) has signed a deal with the Ayala group to acquire its telehealth company, KonsultaMD.
The acquisition of KonsultaMD was formalized on Tuesday, mWell said in an e-mail statement. The value of the deal was not specified.
KonsultaMD is a telehealth platform of Globe’s corporate venture builder 917Ventures under the Ayala group, while mWell is the digital healthcare arm of Metro Pacific Investments Corp. (MPIC).
“Progress for any country depends on a healthy citizenry. This agreement represents a giant step forward towards real, immediate, and reliable care for our countrymen,” mWell Chairman and MPIC Manuel V. Pangilinan said.
KonsultaMD will continue to keep its brand and operate under MPIC and mWell management in the interim following the acquisition, ensuring continued access to key services while enhancing healthcare delivery.
“This acquisition supports our common vision of delivering accessible and inclusive healthcare solutions to every Filipino,” Ayala Corp. Chairman Jaime Augusto Zobel de Ayala said.
The integration of the KonsultaMD and mWell platforms will expand MPIC’s reach, linking more patients to its nationwide hospital and healthcare network.
“By integrating our resources with KonsultaMD, we are well-positioned to provide expansive and high-quality healthcare to all Filipinos, both locally and globally,” mWell President and Chief Executive Officer (CEO) Chaye Cabal-Revilla said.
Established in 2015, KonsultaMD offers health services including 24/7 doctor consultations, diagnostics, medicine delivery, and homecare. It has 2.7 million users and a wide network of partner doctors.
For its part, mWell is a health and wellness app that has 3.1 million users. Its global reach includes over 90,000 users from across Asia, South America, Africa, North America, Oceania, and Europe.
“Bringing together the power of mWell’s digital ecosystem and KonsultaMD’s comprehensive services and expansive reach will ultimately benefit Filipino consumers. This synergy will help us more swiftly achieve our shared goal of providing healthcare for all,” Globe President and CEO Ernest L. Cu said.
MPIC is one of the three key Philippine units of Hong Kong-based First Pacific Co. Ltd., the others being Philex Mining Corp. and PLDT Inc.
Hastings Holdings, Inc., a unit of PLDT Beneficial Trust Fund subsidiary MediaQuest Holdings, Inc., has a majority share in BusinessWorld through the Philippine Star Group, which it controls. — Revin Mikhael D. Ochave
