IFC in­vests $40M in Fuller­ton Health

BioSpectrum (Asia) - - Finance News -

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.

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