Fullerton Healthcare Group Ipo

Fullerton healthcare group ipo

Fullerton healthcare group ipo

Fullerton Health is an integrated enterprise healthcare service provider founded in 2011 in Singapore.[1] The company specializes in designing customized medical services for corporate and insurer clients.[2] Fullerton Health began with an initial investment in corporate healthcare providers Gethin-Jones and Drs Trythall Hoy Davies.[1] Over the years, they grew through both organic growth and investments and mergers and acquisitions.[3]

Fullerton Health made 3 major acquisitions in 2015 which helped grow its presence in both existing and new markets.

In May, their subsidiary, Global Assistance & Healthcare (GAH) acquired PT JLT GESA, more commonly known as Medilum, that provides managed healthcare and third-party administration services.[4] Later in August, they bought an 80 percent stake in Hong Kong medical provider, HMMP Limited (HMMP), for SGD$33 million.[5] Above all, the purchase of Radlink-Asia in Singapore for SGD$111.2 million[5] marked its entry into the advanced medical diagnostic imaging market and allowed it to cut costs through the digitisation of processes.[6]

As of June 30, 2016, Fullerton Health owns 198 clinics and facilities across Singapore, Hong Kong, Indonesia, Malaysia and Australia,[7] has close to 2,000 employees[8] and sees an annual revenue of more than S$300 million.[9]



Fullerton Health was co-founded in 2011 by its chief executive Dr.

Michael Tan and deputy chief executive Dr.

Fullerton healthcare group ipo

Daniel Chan through an initial investment in corporate healthcare providers Gethin-Jones and Drs Trythall Hoy Davies, which have been around since the 1950s, starting out with 10 clinics and 70 staff during that time.[1]

Expansion and Regional Footprint[edit]

From 2011 to 2016, the Singapore-based healthcare provider has expanded its presence to Malaysia, Indonesia, Australia and Hong Kong[1] and now operates with a staff of close to 400 medical professionals and over 1,000 support staff[10] and a network of over 8,000 associate hospitals and clinics.[1]

As of 2016, Fullerton Health receives an average of 4 million patient visits per annum and has served approximately 10 million people with its medical services,[11] working with approximately 25,000 companies across Asia-Pacific to provide employers and employees with access to affordable healthcare services.[12] Its corporate clientele include Marina Bay Sands, Standard Chartered Bank, Singapore Airlines and other multinational corporation employees, as well as SME employees.[9]


2011Spirit of Enterprise Honouree (Dr Michael Tan[13] and Dr Daniel Chan[14])
2015Frost & Sullivan Singapore Excellence Awards

(Primary Healthcare Services)[15]

2015Ernst & Young (EY) Entrepreneur of the Year (Dr Michael Tan)[16]
2015HR Vendors of the Year Awards- Best

Corporate Healthcare Provider-Gold[17]

2016Joint Commission International's (JCI)

Gold Seal of Approval for Ambulatory Care[18]

2016The Tatler 300 Singapore (Dr Michael Tan)[19]

Corporate Affairs[edit]

Financial Performance

In 2014, Fullerton Health experienced more than double revenue growth to S$163.8 million followed by a 46.9% growth in 2015 to S$240.6 million.[20]

Charitable Causes - Project Big Heart

Project Big Heart is a joint project by Fullerton Health, Jurong Central CCC and Loving Heart Multi-Service Centre (Jurong).[21] The initiative was created to give lower-income residents and the elderly diagnosed with chronic conditions like high blood pressure and diabetes free medical services.[21] It was first launched in January 2015 and was made available only to residents in Jurong Central.[22] Recently, the programme was launched in Jurong Spring and Yuhua.[22]

In February 2016, about 600 Jurong GRC in the Community Heath Assist Scheme (CHAS) participated in the Project Big Heart carnival, a joint project with Fullerton Health Group.

Medication was prescribed to patients at no cost.[23]


The official Fullerton Health Group company logo

How Fullerton Health is Seizing the Asia-Pacific Healthcare Opportunity