Fullerton Health Is Said to Weigh Options Including Sale

(Bloomberg) -- Fullerton Healthcare Corp. is exploring options including a sale of the company or a spinoff of its digital unit, according to people familiar with the matter.

The two new options come on top of plans from a few months ago to conduct a private funding round of about $400 million, said the people, who asked not to be named because the matter is private. Deliberations are ongoing and plans could change, the people said.

Founded in 2010, Fullerton Health operates clinics in at least eight Asia-Pacific markets from China and Malaysia to Australia and New Zealand, offering general practitioner, screening and diagnostics services. Backed by Ping An Insurance (Group) Co., the company is also working with WeDoctor in China to set up primary care and specialist outpatient clinics.

Fullerton Health sought an initial public offering back in 2018 in the U.S., people familiar with the matter said at the time.

The company declined to comment on any potential deal. IFR previously reported that Fullerton Health’s controlling shareholder was conducting a strategic review of its stake, which could lead to a sale.

--With assistance from David Ramli and Manuel Baigorri.

To contact the reporter on this story: Lulu Yilun Chen in Hong Kong at ychen447@bloomberg.net

To contact the editors responsible for this story: Candice Zachariahs at czachariahs2@bloomberg.net, Peter Vercoe

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