Singapore, 21 November 2016: Fullerton Health today announces that it is deferring plans for an Initial Public Offering (IPO) in 2016.
In light of current market uncertainty, Fullerton Health has decided against proceeding with the proposed IPO, despite significant interest from high-quality international investors during the book-build, which was heavily over-subscribed. The company will continue to re-assess equity capital markets options in 2017, subject to market and other conditions at the time.
Fullerton Health expects continued strong organic growth and double digit year-on-year increases in both revenues and operating profit for 2016, and will continue to target certain acquisitions, funded from the company’s strong balance sheet and existing cash flows.Without any immediate need to access the equity capital markets to fund its growth plans, the company will meanwhile continue to assess the various options available which will providing the flexibility to pursue any more significant acquisition opportunities that may arise.
Commenting on today’s announcement, Fullerton Health CEO Dr Michael Tan said: “The IPO process has been valuable for us, and we continue to explore further opportunities for operational expansion.
Fullerton Health continues to deliver strong growth and we recognise the responsibility, and value, that comes with our role in the healthcare ecosystem, working with our clients, panel doctors and regulatory agencies to deliver high quality, affordable and accessible healthcare to patients in Singapore and beyond.
We continue to exceed the expectations of existing clients and win new ones, because they understand our value proposition; our proprietary data management and analytics technology provides them with significant opportunities to control their costs while increasing the quality of care, and improving the health of their employees and policyholders through proactive occupational health and wellness advice.
We are very grateful to our panel healthcare providers for their continued support and understanding, and we will work with them to increase predictable patient flow, while providing them with benefits such as cashless payment and our claims processing services, so that they can focus on providing the best care for their patients.
We remain committed to our mission to transform Asian healthcare, making it affordable and accessible to those we serve.”
Will Carnwath +65 6426 8188
About Fullerton Health
Fullerton Health is a leading provider of corporate healthcare solutions across Asia Pacific. Founded in Singapore in 2011, today we own more than 190 medical centres across 5 countries and have a network of more than 8,000 medical providers around the world. We harness all these resources to provide you healthcare that is affordable, yet accessible.
More than 25,000 corporations from multinational companies, small medium enterprises to government organisations, have chosen to use our services. Our integrated healthcare model and our scale mean we can offer one-stop and cost-effective solutions to our corporate and insurer clients, and better care to our patients
What’s more, we are strong believers in innovation, and in staying ahead of technological developments. This means we have our own advanced technology system that powers the Fullerton network, and enables this Fullerton network to grow further. All this means a continuing ability to improve business performance and efficiency, which in turn creates cost-savings for you.
With 50 years of experience listening and caring and an experienced management team that brings the best from different industries, we are now better poised to transform healthcare in Asia, making it affordable and accessible to those we serve.