Ayala Healthcare Holdings Inc. (AC Health) announced on Friday it is acquiring a 60 percent majority stake in Cebu Velez General Hospital (CVGH), a 200-bed Level 3 hospital in Cebu City, through its Healthway Medical Network.
While financial terms of the deal were not disclosed, the acquisition marks a significant step in AC Health’s strategic expansion across the Philippines, particularly in the Visayas region.
AC Health president and CEO Paolo Borromeo said the move supports the company’s broader vision of transforming healthcare access for Filipinos. “Cebu is an important market for us… we are grateful to the Velez family for their trust,” Borromeo said.
CVGH, founded in 1947, is one of Cebu’s most established medical institutions. Assistant administrator James Velez Ting expressed confidence in the partnership, stating it will allow the hospital to expand its reach and enhance its services.
“This partnership allows us to strengthen our legacy while serving communities in new and meaningful ways,” Ting said.
Jimmy Ysmael, president and CEO of Healthway Medical Network, emphasized the integration will bolster patient care through stronger referral systems and expanded services.
The acquisition follows a recent minority investment in AC Health by Singapore-based ABC Impact, which committed to a 16 percent stake. AC Health aims to scale up its network to at least 10 hospitals, 300 clinics, and over 1,150 pharmacies nationwide by 2027.
Fortman Cline Capital Markets acted as the financial advisor to CVGH and the Velez family in the transaction.
