Mitsubishi Corp has acquired a minority stake in Singapore-based healthcare solutions provider Fullerton Health for an undisclosed amount, according to an announcement.
The statement did not disclose the stake, but DealStreetAsia’s DATA VANTAGE shows the Japanese trading house picked a 25.01% share in the Singaporean company.
Mitsubishi Corp now joins pharmaceutical company Far East Drug, Codega Fund, and Fullerton Health Corporation Limited as the top shareholders of Fullerton Health.
Fullerton Health’s top shareholders
Founded in 2010, Fullerton Health operates in nine Asia-Pacific markets with nearly 500 clinics and a network of more than 18,000 providers. Its largest operations are in Singapore, Indonesia, and the Philippines, with plans to enter new markets across the region.
The company said it will leverage its existing footprint and invest in digital and artificial intelligence-driven solutions to deliver healthcare on a fully integrated platform.
“This partnership reflects strong alignment between Mitsubishi Corporation and our existing shareholders on the long-term value and industry leadership potential of Fullerton Health,” said Ho Kuen Loon, group CEO and non-executive director at Fullerton Health.
The deal concludes a series of minority investments that included participation from Far East Drug, supporting Fullerton Health on its continued expansion in its strongest markets, while pursuing strategic entry into new regional territories.
“With a shared commitment to impact and innovation, we are well-positioned to achieve our aim to positively impact 10 million lives in the coming years,” Ho added.
Mitsubishi, Japan’s largest trading company, last year acquired about 6.5% of Global Fintech Innovations Inc (Mynt), the parent company of Philippines’ major finance super app GCash.
GCash is a ubiquitous finance super app in the Philippines with over 94 million active users.
