Fullerton Health Group

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Fullerton Health is an integrated enterprise healthcare service provider founded in 2010 in Singapore. [1] The company specializes in designing customized medical services for corporate and insurer clients. [2]

Starting in 2011 Fullerton has expanded its presence to Malaysia, Indonesia, and Hong Kong [1] As of 2022 it had operations in nine countries in Asia-Pacific. [3]

History

Fullerton Health began with an initial investment in corporate healthcare providers Gethin-Jones and Drs Trythall Hoy Davies. [1] Over the years, it has grown both organically and through mergers and acquisitions. [4] It now[ when? ] now operates with a staff of close to 400 medical professionals and over 1,000 support staff [5] and a network of over 8,000 associate hospitals and clinics. [1]

By 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. [6]

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. [7] Later in August, they bought an 80 percent stake in Hong Kong medical provider, HMMP Limited (HMMP), for SGD$33 million. [8] Above all, the purchase of Radlink-Asia in Singapore for SGD$111.2 million [9] marked its entry into the advanced medical diagnostic imaging market and allowed it to cut costs through the digitisation of processes. [10]

As of June 30, 2016, Fullerton Health owned 198 clinics and facilities across Singapore, Hong Kong, Indonesia, and Malaysia, [11] had close to 2,000 employees [12] and had annual revenue of more than S$300 million. [13] Fullerton Health received an average of 4 million patient visits per annum and claimed to have provided medical services to approximately 10 million people, [14] working with approximately 25,000 companies across Asia-Pacific. [15] Its corporate clientele include Marina Bay Sands, Standard Chartered Bank, Singapore Airlines and other multinational corporation employees, as well as SME employees. [13]

The company sought new financing in 2021 which was nearly derailed by internal disagreements. The company's founders brought winding up proceedings which were evntually withdrawn. [6] In 2025 the company attracted investment from Mitsubishi Corp. as part of the Japanese company's regional healthcare expansion. [16] [17] [18]

In August 2025, David Sin, one of the co-founders of Fullerton Healthcare Corp (FHC) was fined $160,000 fine for approving falsified claims of over $213,000. [19] Sin approved the claims on multiple occasions in 2019, despite knowing that another co-founder Daniel Chan Pai Sheng, 51, had submitted them with the intent to defraud FHC, according to court documents. [20]

References

  1. 1 2 3 4 Huang, Claire. "Fullerton Health to raise S$300m in proposed SGX listing". The Business Times. Retrieved 2017-01-09.
  2. "Fullerton Health Prospectus". Monetary Authority of Singapore: 16.
  3. "Singapore's Fullerton Healthcare settles disputes with co-founders". Reuters. Archived from the original on 2022-08-04. Retrieved 2025-11-26.
  4. "Fullerton Health Prospectus". Monetary Authority of Singapore: 17.
  5. "Fullerton Health Prospectus". Monetary Authority Singapore: 200.
  6. 1 2 "Fullerton Health Prospectus". Monetary Authority Singapore: 37.
  7. Haoxiang, Cai. "Fullerton Health unit buys Indonesian managed healthcare firm Medilum". The Business Times. Retrieved 2017-01-09.
  8. hermes (2016-10-14). "Fullerton Health IPO faces delay after complaints". The Straits Times. Archived from the original on 2020-12-01. Retrieved 2025-11-27.
  9. Lee, Marissa (2016-10-14). "Fullerton Health IPO faces delay after complaints". The Straits Times. Retrieved 2017-01-09.
  10. "How Fullerton Healthcare is adopting technology". CNBC. Retrieved 2017-01-09.
  11. "Fullerton Health Prospectus". Monetary Authority of Singapore: 192.
  12. "Fullerton Health Prospectus". Monetary Authority of Singapore: 201.
  13. 1 2 "富乐医疗创始人陈锦松 要当现实版"大大长今"". 联合早报网. 2016-01-31. Retrieved 2017-01-09.
  14. "Fullerton Health Prospectus". Monetary Authority of Singapore: 172.
  15. "Fullerton Health Prospectus". Monetary Authority of Singapore: 171.
  16. Gabriel, Anita. "Fullerton deal caps Japan Inc's long game in Southeast Asia's healthcare space". The Business Times. Archived from the original on 2025-08-28. Retrieved 2025-11-26.
  17. "Mitsubishi Acquires Minority Stake in Fullerton Health". Bloomberg.com. Archived from the original on 2025-09-17. Retrieved 2025-11-26.
  18. Gabriel, Anita (2021-04-13). "Sale of Fullerton Health draws eight non-binding bids in 1st round: sources". The Business Times. Retrieved 2025-11-26.
  19. "$160k fine for Fullerton Healthcare Corp co-founder who approved falsified claims of over $213k". The Straits Times. 2025-08-21. ISSN   0585-3923 . Retrieved 2025-11-18.
  20. Quek, Hykel (2024-06-12). "Who is David Sin, and what's his Fullerton Healthcare alleged graft case about?". The Business Times. Retrieved 2025-11-26.