IFC invests $40M in Fullerton Health
The International Finance Corporation (IFC), a member of the World Bank Group, has committed a $40-million loan facility to the Philippine subsidiaries of Singaporebased integrated healthcare platform Fullerton Health – Fullerton Health Philippine Holdings and Fullerton Health Philippines Pte Ltd. IFC’s investment comes four months after Fullerton Health officially entered the Philippine healthcare market through its acquisition of a 60 per cent stake in the Intellicare Group.
The IFC investment will help improve the provision of affordable, quality healthcare in the Philippines and enhance efficiencies in the health maintenance organization market through increased integration between the financing and provision of healthcare.
Fullerton Health sees the Philippines as an important market in the Asia Pacific for the company due to its market being underpinned by attractive underlying growth drivers. This acquisition grants Fullerton Health a presence in eight Asian countries.