Ares Management Corp., a New York-listed investment manager, prepares to increase its stake in Belo Medical Group up to 70 percent after its initial investment in July 2024.
A report by business news site InsiderPH placed the value of Belo Medical Group, led by celebrity entrepreneur Dr. Victoria “Vicki” Belo at under P20 billion.
The report said Ares Management would take a majority position of up to 70-percent interest in Belo Medical Group.
Ares Management announced in July 2024 a strategic investment into Belo Medical Group which has 14 branches across the Philippines.
Founded by Dr. Belo in 1990, Belo Medical Group was the first Philippine company accredited by the prestigious National Accreditation Board for Hospitals and Healthcare Providers (NABH) as an ambulatory clinic.
The investment aimed to enable Belo Medical Group to expand to new locations and services, invest in innovative technologies and build out its skincare product portfolio while continuing its mission in seeking to deliver world-class aesthetic services to its discerning clients.
Ares Management said that as of end-March 2024, it had about $428 billion of assets under management with 2,900 employees operating across North America, Europe, Asia Pacific and the Middle East.
“With Ares’ track record in the health and beauty sector globally and prior work with founder-led businesses, I have full confidence that Ares is the right partner for Belo Medical Group as we embark on the next 30 years of our journey,” said Belo, founder and medical director of Belo Medical Group.
Belo said the partnership aimed to accelerate the group’s growth and achieve its ambition of making the Philippines a hub for aesthetic medicine in Asia.
“We aim to make Belo’s treatments and technologies accessible to patients not only across the Philippines, but worldwide,” Dr. Hayden Kho Jr., managing director of Belo Medical Group said in the July statement.
Carmina Mancenon-Wilson, principal of Ares in Asia said the investment in Belo Medical Group is consistent with its strategy of partnering with market-leading growth businesses across the region.
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