Leading small footprint food and beverage store operator Fruitas Holdings, Inc. is diversifying into the healthcare business.
In a disclosure to the Philippine Stock Exchange, the firm said it has entered an agreement to acquire 100% of the shares of Surehealth Multi-Specialty and Diagnostic Clinic Corporation.
The acquisition marks Fruitas’ entry into the medical and diagnostic clinic sector within the healthcare industry.
“Fruitas is pursuing this acquisition to take advantage of the growing demand for healthcare services in the Philippines,” the firm said.
Surehealth is a private medical and diagnostic clinic established in 2007. Over the years, Surehealth has created strong relationships with corporations within the airline support services, construction, and logistics industries by servicing medical pre-employment, executing annual physical examinations, and performing medical laboratory tests for its clients’ workforce.
Under the agreement, Fruitas will acquire a 100 percent stake in Surehealth which includes medical equipment, specialized manpower, and the physical clinic located at Sta. Mesa, Manila.
The transaction is subject to execution of definitive agreements and closing is expected within two months.
“Surehealth is Fruitas’ health service provider throughout this COVID-19 pandemic. With Surehealth’s services, Fruitas has not had a single case of local transmission and had zero COVID-19 casualty since day one of the pandemic,” said Fruitas President and CEO Lester Yu.
He added that, “Fruitas has also established its own quarantine and isolation facility to aid its workforce during these trying times and we were successful against the dreaded virus.”
“The acquisition enables Fruitas to provide medical diagnostic services apart from the current products we offer. We are extremely excited to enter the healthcare industry to further encourage a healthy lifestyle among our customers,” said Yu.
Source: Manila Bulletin (https://mb.com.ph/2021/11/08/fruitas-diversifying-into-healthcare-business/?utm_source=rss&utm_medium=rss&utm_campaign=fruitas-diversifying-into-healthcare-business)
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