AC Health Invests in St. Joseph Drug

AHCHI Pharma Ventures Inc. and Generika Drugstore President and CEO Atty. Yet Abarca and AC Health President and CEO Paolo Borromeo (third and fourth from left) sign the definitive agreements with (from left) St. Joseph Drug Director Anthony Cruz; Corporate Secretary Maria Eleanor Cruz-Valero; Chairman, President, and CEO Ma. Socorro Dorotea “Gigi” Cruz; Treasurer and COO Marilene Cruz-Bernal; and Directors Maria Catherine Cruz-Bangsal and Joselito Cruz

AC Health has acquired a significant minority stake in North Luzon-based pharmaceutical company, St. Joseph Drug. The agreements were signed on December 15 between St. Joseph Drug and AC Health’s pharmaceutical arm, AHCHI Pharma Ventures Inc. (APV).

Established in 1958 by pharmacist Jose “Pepe” Cruz and his wife Leila Lagman from Dagupan City, St. Joseph Drug has grown from a modest provincial drugstore with three employees and a 3.5-meter storefront into a leading regional pharmaceutical chain with over 112 stores across Northern Luzon.

Said AC Health President and CEO Paolo Borromeo: "The addition of St. Joseph Drug to our portfolio is in line with our commitment to enhance accessibility and affordability of healthcare for Filipinos nationwide. St. Joseph Drug, alongside our existing retail pharma brand, Generika Drugstore, will expand our capacity and footprint to distribute quality and affordable medicine to our countrymen. Together with our pharma importation businesses IE Medica and MedEthix, we will greatly enhance synergies and efficiencies within our pharmacy platform to further improve our products and services throughout our AC Health network.”

APV serves as the holding company for AC Health's pharmaceutical businesses, which include Generika Drugstore, the pioneer in generic retail pharmacies; IE Medica and MedEthix, its pharma importation and distribution arms; and now, St. Joseph Drug. This strategic acquisition enables AC Health to strengthen its pharma footprint and reach more Filipinos throughout the country.