AIA Acquires Filipino Healthcare Firm

AIA Acquires Filipino Healthcare Firm

Insurance giant AIA has acquired a healthcare firm in the Philippines as part of its growth drive in Asia.

AIA has agreed to buy Filipino healthcare services provider MediCard, according to a statement, with the deal subject to regulatory approvals.

MediCard is a healthcare and health service provider in the Philippines with over 92,000 members and a network of more than 1,000 partner hospitals and clinics. 

Hong Kong-headquartered AIA has been seeking acquisitions within Asia as of late with talks to reportedly purchase a Shanghai-based office tower valued at around $1.3 billion to complement its growing onshore business.

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