New KonsultaMD superapp to be one-stop-shop for all health services; Creates largest PH healthtech play
Three Philippine companies have come together to deliver the largest healthtech play in the country, aiming to provide accessible healthcare to Filipinos through a one-stop health superapp.
Globe Capital Venture Holdings, Inc. (917Ventures), the corporate venture builder of the Globe Group, Ayala Healthcare Holdings Inc. (AC Health),the healthcare portfolio arm of the Ayala Group, through its wholly-owned subsidiary, Vigos Ventures, Inc., and Salud Interactiva S.A. DE C.V. have agreed to the reorganization of Global Telehealth Inc. (KonsultaMD), HealthNow, Inc. (HealthNow) and APPPPS Partners, Inc. (AIDE) to combine their respective applications in one superapp.
With a vision to uplift the healthcare journey of every Filipino, the deal combines three market-leading telehealth applications – KonsultaMD, which serves teleconsultations, HealthNow, which serves medicine deliveries, and AIDE which serves laboratory tests and home care – into one full service health superapp, the new KonsultaMD. Altogether, the companies have an existing user base of over 2 million.
The full service health superapp aims to go live by the first quarter of 2023.
To date, KonsultaMD is already the dominant player in teleconsultations with over one million members and a retail network of over 50,000 outlets.
Over the past two years, HealthNow and AIDE have emerged as critical players in the AC Health ecosystem, growing its base to over 1M registered users.
Amidst lockdowns, HealthNow enabled continued access to various services including medicine deliveries and teleconsultation services already powered by KonsultaMD. HealthNow was also instrumental in AC Health’s COVIDShield, the largest private sector-led COVID-19 vaccine administration program in the country, providing a single platform where patients could book their vaccinations and schedule post-vaccination consults.
AIDE has likewise continued to support patients through the pandemic by enabling access to key home healthcare services including laboratory and diagnostics.
“By combining the strengths of each of the three entities, I am excited to see the new KonsultaMD support AC Health’s vision of an integrated healthcare ecosystem,” said Paolo Borromeo, President and CEO of AC Health.
“This combined digital team, supplemented by the network of services from AC Health, allows us all to be in a better position to provide much-needed access to quality healthcare services and medicines across the country, accelerating our goal of touching the lives of 1 in 5 Filipinos by 2030,” Borromeo added.
Meanwhile, KonsultaMD has grown to be the most visible brand in the Philippine healthtech space. It has established several partnerships to make health services accessible to all market segments. Its services are available via Globe mobile and broadband postpaid plans, as well as prepaid offers. It is also in 60+ superapps and FMCG products and in the Huawei Vision S TV.
“This is a very important step for us to further grow KonsultaMD. We have long experienced the challenges and difficulties of healthcare in the Philippines and we intend to address those challenges. Our ambition is to democratize health services, making it as easily available and affordable to every Filipino regardless of where you are in the country,” said Vince Yamat, 917Ventures Managing Director.
Cholo Tagaysay, who has presided over KonsultaMD the past two years will be the CEO of the consolidated entity.
“Consultations are at the top of the funnel. Consultations generate prescriptions which in turn generate lab requests. Now, we can fulfill all of these. We are a one-stop-shop for all your health needs,” said Tagaysay.
Beia Latay, who has served as HealthNow CEO over the past two years, will be COO of the new KonsultaMD.
“Our synergy creates a complete and simplified healthcare experience, spanning home, in-clinic and hospital,” said Latay.
Redefining the healthcare experience is a shared mission between AC Health and 917Ventures. By combining AC Health’s multi-channel care delivery network, and 917Ventures’ drive for continuous innovation through digital technology, Filipinos can expect to access healthcare services in a much more powerful, end-to-end, and seamless manner extending to both digital and brick-and-mortar touchpoints.
917Ventures offers various services in fintech, edutech, adtech, and ecommerce, among others.