Healthway Philippines, Inc agreed to acquire a 39.2% stake in Daniel O Mercado Medical Center from Ayala Land, Inc. (PSE:ALI) on October 7, 2020. Healthway Philippines, Inc entered into a share purchase agreement to acquire a 39.2% stake in Daniel O Mercado Medical Center from Ayala Land, Inc. on December 21, 2020. Under the transaction, Healthway Philippines, Inc will acquire 28,125,782 common shares and 330,607 preferred shares of Daniel O Mercado Medical Center. Transaction is subject to approval of the amendment of the Articles of Incorporation and By-Laws of Daniel O Mercado Medical Center to reflect revisions therein, including the increase in authorized capital stock and creation of voting, cumulative, redeemable and on-participating preferred shares; Renewal of relevant permits; Execution of agreements to purchase the hospital buildings from Ayala Land, Inc.’s subsidiaries and related companies. Transaction has been approved board of directors of Ayala Corporation, parent of Ayala Healthcare Holdings, Inc. As of October 19, 2020, transaction has been approved by board of directors of Ayala Land. Cash generated from the transaction can be used by Ayala Land or its operations.