Monday 25 March
Dec 7, 2018 @ 15:18

Ayala Group takes over Bacolod-based pharmacy

 

AC Health, a wholly-owned subsidiary of conglomerate Ayala Corp., has acquired 75 percent of Negros Grace Pharmacy, which owns and operates over 70 drug stores across Visayas.

In a stock exchange filing, the country’ oldest holding firm said AC Health signed Thursday a purchase agreement with Jasminum Corp.

“This transaction enables AC Health to expand its portfolio in pharmacies, particularly in the Visayas region,” the conglomerate said.

Ayala said the closing of the deal was subject to the fulfillment of certain conditions and to securing any necessary regulatory approval.

Negros Grace is a family-owned corporation founded in 1971.

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