PCC approves Ayala Healthcare’s higher stake in Generika

Antitrust agency Philippine Competition Commission (PCC) has given Ayala Healthcare Holdings Inc. the thumbs up to increase its stake in Generika group of companies to 52.5 percent.

“Please be informed that on June 3, 2019, Ayala Healthcare Holdings Inc. received the approval of the Philippine Competition Commission on its proposed increase in stake in the Generika group of companies," Ayala Corp. (AC) said in a regulatory filing submitted by its chief legal officer Solomon Hermosura.

The Philippine Competition Act mandates the PCC to promote fair market competition and prohibit anti-competitive behavior among businesses across sectors, and advance consumer welfare in the process.

AC Healthcare said it will proceed with the closing of the transaction which will increase its stake in Generika to 52.5 percent from 50 percent.

Last month, Ayala Healthcare also got the PCC approval to acquire 75 percent of the outstanding capital stock of Negros Grace Pharmacy Inc.

Aside from Generika Drugstore, Ayala Healthcare also counts as brands the community-based clinic Family Doc, online pharmacy and delivery platform MedGrocer, medical records application Vigos, and doctor-patient booking application Aide. —Jon Viktor Cabuenas/VDS, GMA News