Manila, Philippines, November 22, 2023 – On Tuesday, the Ayala Healthcare Holdings, Inc. (AC Health)’s hospital and clinics arm, Healthway Medical Network (HMN), and the Far Eastern University-Dr. Nicanor Reyes Medical Foundation, Inc. (FEU-NRMF) announced their partnership to manage the latter’s 300-bed university hospital in Quezon City.
The partnership consists of a management agreement of up to 24 months starting January 2024, where HMN will manage hospital operations on behalf of FEU-NRMF. This will be followed by the full turnover of hospital operations through a 35-year lease agreement. Both agreements shall be effective upon fulfillment of certain conditions.
Under the management agreement, HMN will have oversight over clinical, financial, and administrative operations. The interim management period is expected to facilitate the smooth transition of FEU-NRMF operations to HMN.
AC Health and FEU-NRMF expressed that they look forward to the partnership, which will allow them to leverage each other’s strengths to deliver better patient care.
“We are thrilled to welcome FEU-NRMF in our growing network of hospitals and clinics. By leveraging FEU-NRMF’s technical and academic expertise, we hope to deliver a better healthcare experience to our patients,” said Paolo Borromeo, President and CEO of AC Health.
“It is an honor to be added to the illustrious list of partners of the country’s oldest and largest conglomerate. While FEU-NRMF has remained steadfast in maintaining its reputation as one of the top medical and allied health schools in the Philippines, the increasing competition in the hospital industry prompted us to explore collaborating with Ayala. Seeing how they have built a vertically integrated system of hospitals in less than 10 years, supported by a robust network of mall-based and corporate clinics, pharmacies, and digital health has been remarkable. We look forward to learning from the best and tapping their operational expertise to provide better opportunities for our patients, people, and students,” said Juan Enrique Reyes, President and COO of FEU-NRMF.
Founded in 1955, FEU-NRMF Medical Center was originally established in Morayta, Manila to serve the healthcare needs of the community and provide training for the students of the Institutes of Medicine and Nursing. With the scarcity of hospitals and the growing demand for education in the medical and allied health professions, it relocated to the dense, yet underserved, neighborhood of Fairview in 1999. Through the years, it has risen to prominence as the only Level 3 hospital in its district, offering seven fellowship and ten residency training programs to complement its roster of degree programs in Medicine, Nursing, Pharmacy, Radiologic Technology, Medical Laboratory Science, Physical Therapy, and Respiratory Therapy.
Ayala Healthcare Holdings, Inc. (AC Health) is a wholly-owned subsidiary of the Ayala Corporation that aims to provide every Filipino accessible, affordable, and quality healthcare. Its portfolio includes Generika Drugstore, the pioneer in generic retail pharmacies, IE Medica and MedEthix, a major pharmaceutical importer and distributor, Healthway Medical Network, a network of multi-specialty clinics, ambulatory centers, and full-service hospitals, and KonsultaMD, a healthcare aggregator app that offers online consultations, medicine delivery, and clinic and diagnostic booking. Through its three pillars—pharma, hospitals and clinics, and digital health—AC Health creates a seamless and integrated healthcare ecosystem for the Filipino patient.
Healthway Medical Network
Healthway Medical Network (HMN), the clinics and hospitals group under AC Health, integrates the medical expertise of Healthway QualiMed Group consisting of 4 full-service hospitals and an ambulatory center, 13 Healthway Multi- Specialty Centers, and the upcoming Healthway Cancer Care Hospital. Strategically located in all parts of the country, HMN offers a wide range of medical services across the entire continuum of care.
Far Eastern University – Dr. Nicanor Reyes Medical Foundation (FEU-NRMF) is a non-stock, nonprofit educational foundation recognized as one of the top-performing medical and allied health institutions in the Philippines and among the Global Top 100 Innovative Universities by the World University Rankings for Innovation. With a storied history spanning seven decades, it has produced over 30,000 innovators, leaders, and luminaries across the globe proudly bannering the Filipino brand of competence and compassion in healthcare.