Fullerton Health Group

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]

The official Fullerton Health Group company logo

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]

History

Founding

Fullerton Health was co-founded in 2011 by its chief executive Dr. Michael Tan and deputy chief executive Dr. 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

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]

Awards

2011	Spirit of Enterprise Honouree (Dr Michael Tan[13] and Dr Daniel Chan[14])
2015	Frost & Sullivan Singapore Excellence Awards (Primary Healthcare Services)[15]
2015	Ernst & Young (EY) Entrepreneur of the Year (Dr Michael Tan)[16]
2015	HR Vendors of the Year Awards- Best Corporate Healthcare Provider-Gold[17]
2016	Joint Commission International's (JCI) Gold Seal of Approval for Ambulatory Care[18]
2016	The Tatler 300 Singapore (Dr Michael Tan)[19]

Corporate Affairs

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]

References

1. 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. "Fullerton Health Prospectus". Monetary Authority of Singapore: 17.
4. Haoxiang, Cai. "Fullerton Health unit buys Indonesian managed healthcare firm Medilum". The Business Times. Retrieved 2017-01-09.
5. Lee, Marissa (2016-10-14). "Fullerton Health IPO faces delay after complaints". The Straits Times. Retrieved 2017-01-09.
6. "How Fullerton Healthcare is adopting technology". CNBC. Retrieved 2017-01-09.
7. "Fullerton Health Prospectus". Monetary Authority of Singapore: 192.
8. "Fullerton Health Prospectus". Monetary Authority of Singapore: 201.
9. "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.
10. "Fullerton Health Prospectus". Monetary Authority Singapore: 200.
11. "Fullerton Health Prospectus". Monetary Authority of Singapore: 172.
12. "Fullerton Health Prospectus". Monetary Authority of Singapore: 171.
13. "HONOUREES 2011". soe.org.sg. Retrieved 2016-10-20.
14. "SOE Books". soe.org.sg. Retrieved 2017-01-10.
15. "Frost & Sullivan". www.frost-apac.com. Retrieved 2016-10-20.
16. Koh, Jeremy (2015-10-15). "Healthcare group co-founder is EY Entrepreneur of the Year". The Straits Times. Retrieved 2016-10-20.
17. "Winners | Vendors of the Year 2015 Singapore". www.humanresourcesonline.net. Retrieved 2016-10-20.
18. "Joint Commission International". jointcommissioninternational.org/. Retrieved 2016-10-20.
19. "The Tatler 300 | Category T | Singapore Tatler". sg.asiatatler.com. Retrieved 2017-01-09.
20. "Fullerton Health Prospectus". Monetary Authority Singapore: 37.
21. Tan, Weizhen (2016-02-29). "Free health screenings in Jurong draw 600". The Straits Times. Retrieved 2017-01-09.
22. "300 lower-income, elderly residents in Jurong get free medical consultations". Channel NewsAsia. Retrieved 2017-01-09.
23. "More needy residents in Jurong to receive free medical consultations". Channel NewsAsia. Retrieved 2017-01-09.