Fullerton Health Group

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 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 The company's founders brought winding up proceedings which were evntually withdrawn.[6] In 2025 the company attracted investment from Mitsubishi Corp.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. Claire Huang. 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^
  3. Singapore's Fullerton Healthcare settles disputes with co-founders Reuters, retrieved 2025-11-26^
  4. Fullerton Health Prospectus Monetary Authority of Singapore^
  5. Fullerton Health Prospectus Monetary Authority Singapore^
  6. Fullerton Health Prospectus Monetary Authority Singapore^
  7. Cai Haoxiang. Fullerton Health unit buys Indonesian managed healthcare firm Medilum The Business Times, retrieved 2017-01-09^
  8. hermes. Fullerton Health IPO faces delay after complaints The Straits Times, 2016-10-14, retrieved 2025-11-27^
  9. Marissa Lee. Fullerton Health IPO faces delay after complaints The Straits Times, 2016-10-14, retrieved 2017-01-09^
  10. How Fullerton Healthcare is adopting technology CNBC, retrieved 2017-01-09^
  11. Fullerton Health Prospectus Monetary Authority of Singapore^
  12. Fullerton Health Prospectus Monetary Authority of Singapore^
  13. 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^
  15. Fullerton Health Prospectus Monetary Authority of Singapore^
  16. Anita Gabriel. Fullerton deal caps Japan Inc’s long game in Southeast Asia’s healthcare space The Business Times, retrieved 2025-11-26^
  17. Mitsubishi Acquires Minority Stake in Fullerton Health Bloomberg.com, retrieved 2025-11-26^
  18. Anita Gabriel. Sale of Fullerton Health draws eight non-binding bids in 1st round: sources The Business Times, 2021-04-13, 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, retrieved 2025-11-18^
  20. Hykel Quek. Who is David Sin, and what’s his Fullerton Healthcare alleged graft case about? The Business Times, 2024-06-12, retrieved 2025-11-26^