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I-Remit, Inc. and Novelis Solutions, Inc. MOA (Memorandum of Agreement) Signing November 3, 2014

I-Remit, the largest Filipino-owned non-bank remittance service provider, and Novelis Solutions, Inc. recently signed a partnership agreement to provide a payment collection facility for OFWs abroad who will purchase MEDPadala Electronic Gift Checks (“EGCs”) for the medical allowance of their families in the Philippines. OFW beneficiaries may use the MEDPadala EGCs to purchase medicines at any of Generika Drugstore’s more than 500 branches nationwide.

Novelis Solutions, Inc. is a corporation that has been duly authorized by Erikagen, Inc., the owner of the MEDPadala trademark and the owner/operator of Generika Drugstore, to market, manage and appoint the necessary third-party sales agents to sell MEDPadala, Generika Drugstore’s Electronic Gift Check, inside or outside the Philippines.

Generika Drugstore was established in September 2003 to address the need for quality and affordable medicines, and promote the use of generic drugs in the context of high prices of medicines in the country. It emphasizes quality generic medicines to overcome the prevailing perception of many Filipinos that generic medicines are substandard. It also offers select branded medicines, medical supplies, galenicals and consumer goods.

From its humble beginnings in May 2004, when its first outlet was opened in Montillano, Muntinlupa, Generika Drugstore is now the third biggest chain of drugstores (in terms of number of stores) in the Philippines and continues to strengthen its presence by putting up more branches, not only in key cities and municipalities, but also in small towns and Barangays. Generika Drugstore envisions that franchising will be its main engine of growth in the years ahead as it strives to achieve its vision, and serve more communities throughout the country. Likewise, the rapid expansion of Generika Drugstore shall pave the way for quality and affordable generic medicines made accessible to everyone.

 

From Left to Right: Harris Jacildo (President and COO – I-Remit), Bansan Choa (Chairman and CEO – I-Remit), Teodoro Ferrer (Treasurer – Novelis Solutions / President – Generika Drugstore), Julien Bello (Vice President – Novelis Solutions) and Jay Ferrer (Vice President – Actimed Distribution)

From Left to Right: Harris Jacildo (President and COO – I-Remit), Bansan Choa (Chairman and CEO – I-Remit), Teodoro Ferrer (Treasurer – Novelis Solutions / President – Generika Drugstore), Julien Bello (Vice President – Novelis Solutions) and Jay Ferrer (Vice President – Actimed Distribution)

 

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