AC Health has acquired a majority stake in Cebu Velez General Hospital (CVGH), a 200-bed Level 3 hospital in Cebu City, marking a significant expansion of its nationwide healthcare network.

The deal comes after Singapore-based ABC Impact invested in AC Health, taking a 16% minority stake. With the fresh capital, AC Health plans to expand to at least 10 hospitals, 300 clinics, and 1,150 pharmacies by 2027.

James Velez Ting, assistant administrator of CVGH, said the partnership would strengthen the hospital’s legacy while broadening its reach and capabilities. “Partnering with AC Health allows us to strengthen this legacy while expanding our reach and capabilities,” he said. “We are excited to be part of AC Health’s growing network and to serve our patients and communities in new and meaningful ways.”

CVGH, founded as a small clinic in 1947, has grown into one of Cebu’s most reputable hospitals, known for its roster of medical professionals and commitment to patient care.

AC Health president and CEO Paolo Borromeo highlighted Cebu as a key market and said the acquisition advances the company’s mission of providing integrated healthcare nationwide.

Jimmy Ysmael, CEO of Healthway Medical Network, said the integration would enhance referral systems and access to broader services for patients.

Fortman Cline Capital Markets served as financial advisor to CVGH and its shareholders.

Source: Bilyonaryo