Mitsubishi Corp buys strategic stake in Singapore’s Fullerton Health

[SINGAPORE] Japan’s Mitsubishi giant has bought a minority stake in Singapore healthcare solutions provider Fullerton Health.

Fullerton’s statement on Tuesday (Aug 26) announcing the deal did not disclose the stake size or price, but a Bloomberg report said it was looking at a 25 per cent interest, citing unnamed sources.

The move concludes a series of investments in the company, including a majority stake acquisition by Far East Drug in April 2024. At the time, Fullerton Health was valued at close to US$1 billion, according to Bloomberg.

The new investors are expected to propel Fullerton Health’s continued expansion in existing markets – particularly in Singapore, Indonesia and the Philippines where its presence is strongest – while actively pursuing strategic entry into new ones across the region.

In its statement, Fullerton Health also noted that it will leverage its “robust footprint” as well as digital and AI capabilities to roll out regional and local solutions on a fully integrated platform.

Ho Kuen Loon, group chief executive officer and non-executive director of Fullerton Health, said: “We are well positioned to achieve our aim to positively impact 10 million lives in the coming years, with a shared commitment to impact and innovation. We will do this by scaling sustainably, strengthening our market leadership, and delivering greater value to all our stakeholders.”

Established in 2010, the healthcare group operates across the Asia-Pacific region, with close to 500 clinics and a network of over 18,000 providers.