Fullerton bags $40M loan to expand PH operations
This healthcare provider is bound to get more aggressive in Manila.
Singapore’s Fullerton Healthcare Corporation bagged a $40-million long-term loan from the International Finance Corp. (IFC), which it plans to pour into developing its subsidiary in the Philippines.
“The IFC investment will help improve the provision of affordable, quality healthcare in the Philippines and enhance efficiencies in the health maintenance organisation (HMO) market through increased integration between the financing and provision of healthcare,” the company announced on Sept. 12.
Fullerton bought a 60 percent stake in the Intellicare Group in Manila, which provides HMO services through Asalus Corporation, Avega Managed Care, Inc., and Aventus Medical Care, Inc.
“Growth of Intellicare and other companies in this segment will help reduce low and middle-income households’ reliance on out-of-pocket payments to fund healthcare expenses,” said Vivek Pathak, IFC Director for East Asia and the Pacific.