Commission Decision No. 15-M-010/2019:
In the Matter of the Proposed Acquisition by Ayala Healthcare Holdings, Inc. of Shares in Negros Grace Pharmacy, Inc.
The proposed transaction is the acquisition by Ayala Healthcare Holdings, Inc. (AHHI) of 75% of the outstanding capital stock of Negros Grace Pharmacy, Inc. (Negros Grace) from Jasminum Corporation (JC), while 25% will remain with JC. After the transaction, the resulting capital structure of Negros Grace will have an authorized capital stock of Php100,000,000.00 divided into 100,000,000 shares with a par value of Php1.00 per share, an outstanding capital stock of Php100,000,000.00, and number of shareholders pegged at 7.
AHHI is the the healthcare arm of the Ayala Group and holds the corporate entity AC Health behind generic pharmacy line Generika Drugstore, community-based clinic brand Family Doc, online pharmacy and delivery platform MedGrocer, medical records app Vigos and doctor-patient booking app Aide. On the other hand, Negros Grace and its subsidiaries, Solomon Drug Corporation and Samuel Drug Corporation, are companies in the pharmaceutical industry with strong regional presence in Central and Western Visayas with 70 drugstores. Negros Grace drugstores sell mostly branded drugs, with a few generic drugs.