Acquisition enhances Fullerton Healthcare’s existing service portfolio and reach in North Asia, as it seeks to transform healthcare standards throughout the region
Singapore, AUGUST 12, 2015 – Fullerton Healthcare Group (Fullerton Healthcare), the leading provider of corporate healthcare solutions in Asia, today announced that it has closed the acquisition of a majority stake in HMMP Limited (HMMP), a leading medical network based in Hong Kong.
Established in 1996, HMMP manages a network of over 700 medical clinics strategically located across Hong Kong, including General Practitioner and Specialist clinics, physiotherapy centres, Traditional Chinese Medicine clinics, and dental clinics, serving renowned multinational companies and government bodies. HMMP will operate as a stand-alone business unit within Fullerton Healthcare and the existing management will remain and continue to work with its roster of partners.
The acquisition, the terms of which are not disclosed, supports Fullerton Healthcare’s mission to transform healthcare standards across Asia, and make healthcare more accessible and affordable throughout the region.
“The acquisition accelerates our vision to deliver the highest levels of clinical services to our clients across Asia,” said Dr Daniel Chan, Deputy CEO of Fullerton Healthcare. “In acquiring HMMP, we are expanding our Pan-Asian family and improving our reach in the region. As one of the leading third-party administrator (TPA) players in Hong Kong with a long history and track record of delivering the highest quality of care, the acquisition allows Fullerton Healthcare to have immediate access to its extensive panel and service its wide range of existing clients.”
“Demand for quality healthcare services and medical expertise referral across Asia is rising, and our strategy has always been to develop a pan-Asian healthcare platform to meet the challenges ahead.” said Mr Roco Chiu, Managing Director of HMMP Limited. “By joining forces with Fullerton Healthcare, we look forward to expanding our services to deliver additional value to our patients and partners.”
“HMMP is a natural fit for Fullerton and we expect a seamless integration of the business into our existing portfolio,” said Mr Royston Tan, North Asia Managing Director of Fullerton Healthcare. “We expect this to be a positive partnership for all parties, and welcome HMMP to the Fullerton Healthcare family as we strive to make healthcare in Asia better, together.”
