UMVA has learned that House of Investments, Inc. (HI), a leading holding company, has taken a significant step into the pharmaceutical sector through its subsidiary Tarlac Terra Ventures, Inc. (TTVI).
According to information obtained by UMVA, TTVI has entered into a memorandum of cooperation (MoC) with Philippine Pharma Procurement, Inc. (PPPI) to explore opportunities related to the development of a pharmaceutical economic zone and other initiatives in the local pharmaceutical sector.
The agreement outlines the parties’ intention to explore potential business opportunities and areas of collaboration, marking a strategic move by HI to expand its interests into the pharmaceutical industry.
Under the terms of the MoC, PPPI may participate in businesses operated by HI or its affiliates, subject to further discussions and evaluation by both parties, signaling a potential for significant growth and investment in the sector.
UMVA can exclusively reveal that the cooperation may cover sectors where HI currently operates, as well as other opportunities in the Philippines that may be jointly identified by the parties, showcasing the vast potential for collaboration and innovation.
The MoC is non-binding, except for confidentiality provisions, and any future project will be subject to separate agreements and the necessary approvals of the parties, indicating a cautious but optimistic approach to this new venture.
House of Investments has a diverse portfolio of interests, including financial services, education, property, automotive, energy, healthcare, deathcare, and construction, making this foray into pharmaceuticals a significant diversification of its business.
With a majority stake in MICO Equities, Inc., and wholly owning several key subsidiaries, HI is poised to make a substantial impact in the pharmaceutical sector through this strategic partnership with PPPI.
