Shanghai, October 25, 2018 – Fullerton Healthcare Corporation Limited (“Fullerton Health” or the “Group”), a leading vertically integrated healthcare platform in Asia Pacific, announced today that Fullerton Health China Limited (“Fullerton China”) has completed an equity investment of RMB300 million in Shanghai Redleaf International Women’s & Children’s Hospital (“Redleaf Hospital”). This is Fullerton China’s first investment in the specialty hospitals sector, following which Fullerton China will become a key strategic shareholder of Redleaf Hospital.
The investment in Redleaf Hospital is an important step that demonstrates Fullerton China’s commitment to the domestic healthcare market. In May 2018, Fullerton China acquired a majority stake in Jiangsu Kangruijia Medical Investment Management Co., Ltd (“Global Doctor”), a leading primary care clinic group in China with healthcare services network of eighteen clinics.
This strategic investment from Fullerton China provides Redleaf Hospital with an even stronger platform for future growth. Redleaf Hospital, which currently focuses on pediatrics, obstetrics and gynecology, will expand into a multi-specialty hospital covering other specialties such as orthopedics and ophthalmology. Fullerton Health and Fullerton China will leverage their deep sector expertise, established over years of operating professional healthcare institutions across the Asia Pacific region, to guide the successful implementation of Redleaf Hospital’s expansion plan. A new upgraded hospital is expected to open at the end of 2019.
Additionally, Fullerton China and Redleaf Hospital also plan to jointly invest RMB200 million to set up a chain of primary care clinics in Shanghai. Through leveraging Fullerton Health’s resources and expertise in healthcare centre operation and management, the clinics will provide GP, specialist outpatient, health screening and other services, which are consistent with the Chinese government’s plans to establish an effective and multi-tiered healthcare system in the country.
David Sin, Deputy Chairman of Fullerton Health, commented: “As one of China’s leading women’s and children’s healthcare institutions, Redleaf Hospital has a strong reputation among clients, healthcare professionals and the broader industry. We are extremely excited to partner with Redleaf Hospital as Fullerton Health accelerates its expansion in the Chinese market. China is focused on the development of a diversified healthcare system and there is increasing demand from the public for quality healthcare services. Against this backdrop, Fullerton China’s strategic investment in Redleaf Hospital comes at an important moment. The strategy and strengths of both sides are highly complementary, and we will aim to provide patients with higher quality, more efficient and more accessible healthcare services.”
Ma Xuanhua, Chairperson of Redleaf Hospital, said: “We warmly welcome Fullerton China’s investment into Redleaf Hospital. Over the years, we have earned an excellent reputation in the industry through our professional services, as well as our solid patient base and strong medical team. The investment from Fullerton China will inject new growth and lead to a brighter future for Redleaf Hospital. We look forward to working with Fullerton China to expand our capabilities and to provide more comprehensive, more sophisticated, healthcare solutions to benefit a greater number of patients in the Shanghai metropolitan area.”
Since its entry into the Chinese market in 2017, Fullerton Health has secured a substantial investment from Ping An Capital Co., Ltd and completed the acquisition of a majority stake in Global Doctor in May 2018.