<article><div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<a href="http://dealstreetasia.com/tag/fullerton-health" target="_blank" rel="noopener">Fullerton Healthcare Corporation Limited (Fullerton Health)</a>, a corporate healthcare provider, is looking to acquire 60 per cent stake in the Intellicare Group, a managed care provider with a strong presence in the Philippines.</article>

<div class="page" title="Page 1">
<div class="layoutArea">
<div class="column">
<a href="http://dealstreetasia.com/tag/fullerton-health" target="_blank" rel="noopener">Fullerton Healthcare Corporation Limited (Fullerton Health)</a>, a corporate healthcare provider, is looking to acquire 60 per cent stake in the Intellicare Group, a managed care provider with a strong presence in the Philippines.
The transaction is to be completed by early 2018. Financial terms of the acquisition are undisclosed.
Fullerton Health sees the Philippines as an important market in the Asia Pacific for the company due to its market being underpinned by attractive underlying growth drivers. This acquisition grants Fullerton Health a presence in eight Asian countries.
In an official statement, Dr Michael Tan, Co-Founder and Group CEO of Fullerton Health, commented: &#8220;With a population of over 100 million people, the Philippines offers great growth potential for the company, and the potential synergies between our two businesses, together with our operational and technological capabilities, will allow us to deliver increased benefits and services to even more corporates and patients across the country.&#8221;
<div class="column">
In late November, Fullerton Health <a style="color: #000080;" href="https://www.dealstreetasia.com/stories/china-fullerton-health-secures-backing-of-ping-an-capital-87291/" target="_blank" rel="noopener">secured the financial backing of Ping An Capital</a> in a deal worth an estimated $121 million to become its second largest shareholder.
This latest acquisition by Fullerton Health comes amidst <a href="http://www.scmp.com/business/global-economy/article/2113586/philippines-see-steady-investment-chinese-firms-excited" target="_blank" rel="noopener">broader interest by Chinese investors in the Philippines market</a> across a number of sectors, particularly in the energy, telecommunications, and consumer goods sectors.
</div>
Due to significant gaps in the Philippines&#8217; healthcare delivery system, abundant opportunities are available for key private participants to invest in the healthcare sector. Private hospitals, pharmaceutical producers, and healthcare IT companies are expanding into the Philippines market, partially due to the recently launched ASEAN Economic Community (AEC).
Lack of infrastructure and human resources are also straining the healthcare delivery system in the Philippines; the bed-to-population ratio is low, with a shortage in qualified healthcare personnel to cater to the needs of the growing population.
Founded in 1995, the Intellicare Group comprises three companies: Asalus, a health maintenance organization (HMO) 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-specialty clinics.
Mario M. Silos, Chairman and President of Intellicare Group, said, “It will enable us to tap into their expansive network and wealth of experience across Asia Pacific to ensure that we are delivering the most sophisticated care possible to corporates and patients throughout the Philippines.&#8221;
</div>
Also Read:
<a href="https://www.dealstreetasia.com/stories/singapores-comfortdelgro-buying-51-stake-uber-unit-218m-88099/">Singapore’s ComfortDelGro picks 51% stake in Uber’s car rental unit for $218m</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/philippines-cirtek-raises-67m-in-local-capital-market-88169/">Philippines: Cirtek Holdings raises $67m in local capital market</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/kkr-seals-1-45-billion-health-deals-growth-equity-push-87432/">KKR seals $1.45b debut fund targeting healthcare deals in growth-equity push</a>
<a style="color: #ff0000;" href="https://www.dealstreetasia.com/stories/temasek-warburg-cdpq-eye-stake-tpgs-asia-healthcare-87202/">Temasek, Warburg, CDPQ in race for TPG’s Asia Healthcare stake</a>
</div>
</div>

Fullerton Health has acquired 60% of the Philippines-based Intellicare Group for an undisclosed sum to expand its footprint to the Philippines.

Fullerton Healthcare acquires 60% in Intellicare, enters Philippines

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief

Fullerton Healthcare acquires 60% in Intellicare, enters Philippines

Continue reading this premium story with a subscription to DealStreetAsia.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief