HONG KONG: Asia-focused insurer AIA Group Ltd said on Wednesday (Sep 28) that it has agreed to buy MediCard, which provides healthcare services in the Philippines, to expand in one of the fastest-growing healthcare markets in the region.
The deal is subject to regulatory approvals, the insurer said in a statement without giving any financial details.
MediCard is a healthcare and health service provider in the Philippines with more than 920,000 members. It has a network of over 1,000 partner hospitals and clinics, and 26 MediCard-owned clinics located in key cities across the country.
Headquartered in Hong Kong, AIA has a presence in 18 markets across the region, with China and Hong Kong accounting for bulk of its business.
Source: Channel News Asia