Ayala Land ventures into healthcare business

Ayala Land Inc. just went into the healthcare business as a way of enhancing its future and existing developments by integrating medical facilities into the traditional residential, office, shopping and hotel mix, the company said Tuesday.

 

The property giant is acquiring Whiteknight Holdings Inc., a company wholly-owned by the Mercado family, which holds a 33 percent equity in Mercado General Hospital Inc., Ayala Land noted in a statement to the Philippine Stock Exchange

 

The acquisition paves the way for Ayala Land to build a strategic partnership with the Mercado Group and support Mercado General in its future growth.

 

“This partnership will accelerate the provision of medical facilities in our new and existing integrated, mixed-use communities,” said Ayala Land president and chief executive officer Antonino T. Aquino.

 

“Together with our traditional residential, office, shopping center and hotel products, the new medical facilities will further enhance and complete our communities, making them the center of development in their region,” Aquino added.

 

Mercado General owns and operates hospitals and ambulatory surgical centers in Batangas, Cebu and Manila, and is building a facility in Iloilo. 

 

Underway are plans for the upcoming healthcare industry player to expand nationwide in conjunction with Ayala Land's.

 

“The partnership will allow us to realize our vision of making quality healthcare accessible to more Filipinos,” said Dr. Edwin M. Mercado, Whiteknight Holdings president and CEO. — VS, GMA News