Three Filipino healthcare tech platforms under the Ayala Corporation, one of the biggest conglomerates in the Philippines, will be integrated to form one health superapp.
Based on a stock exchange disclosure, KonsultaMD, HealthNow, and AIDE will be consolidated under KonsultaMD, which is expected to be launched by the first quarter of 2023.
KonsultaMD is a telehealth app run by corporate venture builder 917Ventures, which also developed the healthcare app HealthNow together with Ayala Corp.’s healthcare arm AC Health. AIDE is a recently acquired medical care app by HealthNow.
Together, these apps have a combined user base of over two million.
WHY IT MATTERS
The health superapp will combine teleconsultations offered by KonsultaMD, medicine delivery services by HealthNOW, and AIDE’s laboratory tests and home care.
KonsultaMD is the dominant telehealth player in the Philippines with over a million members and a retail network of more than 50,000 outlets. HealthNow and AIDE reportedly have grown their base to over one million registered users as well.
“Consultations are at the top of the funnel. Consultations generate prescriptions which in turn generate lab requests. Now, we can fulfil all of these. We are a one-stop shop for all your health needs,” said Cholo Tagaysay, incoming CEO of the consolidated entity.
MARKET SNAPSHOT
With a similar aim of expanding access to quality healthcare, Filipino conglomerate Equicom Group and Singapore-headquartered DoctorAnywhere partnered last year to set up a telemedicine joint venture in the Philippines.
In other news, Metro Pacific Health Tech Corporation recently tapped Active8me, a Singapore-based digital wellness company, to add personalised daily fitness, nutrition and wellness programmes to its mobile health app mWell.
ON THE RECORD
The relaunching of KonsultaMD as a superapp will place AC Heath in a position to provide “much-needed access to quality healthcare services and medicines across the country, accelerating our goal of touching the lives of one in five Filipinos by 2030,” CEO and President Paolo Borromeo commented