First Philippine Holdings Corp. (FPH) is cashing in P2.121 billion from the full divestment of its health-tech arm Pi Health, Inc. to streamline its portfolio and double down on mission-critical businesses.

The conglomerate disclosed on Monday that it sold 100 percent of Pi Health—comprising 40,000 common shares and 81,468 preferred shares—to Pi Holdings Corp. for P2.121 million per share, paid entirely in cash. The buyer has no material ties to FPH, reinforcing the arm’s-length nature of the transaction.

The transaction was carried out through a Share Purchase Agreement and Deed of Absolute Sale, with no conditions that could delay completion.

FPH approved the sale on 5 March and closed it on 31 March, noting that the price reflected a discount to book value but remained aligned with its ongoing effort to sharpen its focus on core operations.

The company said the sale fully supports this repositioning, emphasizing that “the sale of 100 percent of Pi Health is aligned with FPH’s strategy to further sharpen its focus on its core, strategic businesses.”

With Pi Health now out of its portfolio, FPH said the divestment strengthens its long-term positioning by allowing it to shed nonessential assets and redirect resources where they matter most. The conglomerate described the move as part of a deliberate pruning effort to build a leaner, more strategically aligned group.