Fullerton Health China Completes the Acquisition of a Majority Stake in Global Doctor
Shanghai, May 7, 2018 – Fullerton Health, a leading managed care provider in Asia Pacific, announced today that Fullerton Health China Limited (“Fullerton China”) has completed the acquisition of a majority stake of Jiangsu Kangruijia Medical Investment Management Co., Ltd and its subsidiaries (“Global Doctor”).
Global Doctor, founded in 1999, is one of the largest primary care clinic groups in China with 18 clinics in Nanjing, Chongqing, Chengdu, Dongguan, Guangzhou, Nanchang and Suzhou. The company has a strong reputation for providing quality healthcare services and is supported by experienced multi-lingual medical staff and a broad range of diagnostic and treatment modalities.
Following the RMB 800 million investment into Fullerton Health by Ping An Capital Co., Ltd announced in November last year, Global Doctor is the first investment of Fullerton Health in China. The acquisition is aligned with Fullerton Health’s strategy of developing a strong presence in China, and allows it to extend its reach to corporate clients beyond the core target markets of Shanghai and Beijing.
Dr. Daniel Chan, President, Fullerton China commented: “The integration marks a significant step for Fullerton Health, expanding its presence in China at a time of deepening healthcare reform. With strong growth momentum in the healthcare sector, Fullerton Health – as a leading provider of corporate healthcare solutions in Asia Pacific with a proven track record – is well positioned to deliver quality care that is both affordable and accessible across the market. The acquisition is also strategically aligned with the company’s expansion plans in China, and close collaboration with Global Doctor is expected to support further growth into additional cities, including Wuhan and Xi’an.”
Gao Yunhu, Managing Director, Global Doctor said, “The investment by Fullerton Health, establishing themselves as our majority shareholder, is an exciting development for Global Doctor. The acquisition enables Global Doctor to tap into Fullerton Health’s expansive network and wealth of experience across 8 geographies in Asia Pacific, further enhancing our operations and ability to provide quality clinical care in China. With strong track record and its position as the pre-eminent corporate healthcare services provider across Asia Pacific, Fullerton Health is the ideal partner for Global Doctor as we embark on the next stage of our development.