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Philippines: Fullerton to acquire Intellicare Group

Singapore-based managed healthcare provider Fullerton Health has acquired a 60% stake in the Intellicare Group, one of the leading managed care providers in the Philippines. Financial terms have not been disclosed.

The Intellicare Group comprises three companies: Asalus, a health maintenance organisation engaged in the delivery of managed healthcare services via comprehensive, systematic and prevention-oriented health maintenance programmes; Avega, a provider of third party administration services to corporates as well as small and medium enterprises; and Aventus, a chain of nine outpatient multi-speciality clinics.

“Today is an important milestone for Fullerton Health and takes us into our eighth country in Asia Pacific… This acquisition reinforces our strategy of developing a strong presence in markets across the region,” said co-founder and group CEO Michael Tan.

Last month Fullerton received an investment of more than Rmb800 million (US$121.2 million) from Ping An Capital, the core equity investment platform of Ping An Insurance.

Completion of the transaction is subject to the fulfilment of certain conditions and is expected in early 2018.
Posted on: 12/12/2017 UTC+08:00


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