THE health care arm of Ayala Corp. (AC) has invested in United States-based medical technology firm Fibronostics, as it seeks to deliver more screening and monitoring solutions in its clinics.
In a statement issued Tuesday, AC said Ayala Healthcare Holdings, Inc. (AC Health) signed an agreement with Fibronostics’ parent SPRIM Ventures on May 31. AC Health made the investment through its technology arm, Vigos.
AC Health described Fibronostics as a company that focuses on non-invasive, algorithm-based solutions for diagnostic testing. The firm’s goal is to improve screening, follow-up, and diagnosis, especially for prevalent chronic conditions such as liver disease, coronary heart disease, stroke, diabetes, and obstructive sleep apnea.
“This investment fits well into our Vigos health technology portfolio, which we are proud to say is the first digital health portfolio in the Philippines. We are always on the lookout for technology solutions that empower our doctors and improve quality for our patients,” AC Health President and Chief Executive Officer Paolo O. Borromeo said in a statement.
For his part, SPRIM Ventures Managing Partner Michael Shleifer said they hope the partnership with AC Health will help the company reach more patients in the country.
“Through their network of FamilyDOC clinics, we hope to reach many more patients in the Philippines, where the burden of chronic diseases has been growing. Ultimately, our goal is to screen patients early so that they can work in partnership with their doctors to maintain good health and prevent complications,” Mr. Shleifer was quoted as saying.
Under the deal, AC Health will be launching two of Fibronostics’ products, namely LiverFAST and HealthFACTR in its FamilyDOC Clinics.
LiverFAST is a proprietary algorithm that helps screen and monitor common liver diseases, and is marketed as a cheaper option compared to other diagnostics such as liver biopsy or liver imaging. Meanwhile, HealthFACTR provides patients immediate risk assessment and personalized recommendations based on the latest medical guidelines.
“We believe LiverFAST and HealthFACTR can help make diagnostic tests more meaningful for patients and doctors. These algorithms are excellent examples of how we can harness healthcare data and analytics to improve clinical decision-making,” AC Health Chief Digital Officer Christian Besler said in a statement.
AC Health has been ramping up its investments on health technology products. The company also has interests in online pharmacy MedGrocer, home health care mobile platform AIDE, and Singapore-based health fund Tikehau-SPRIM.
The company is also building a P2-billion cancer facility in Metro Manila to address the need for more affordable but high-quality cancer care. — Arra B. Francia