Fullerton Healthcare acquires 60% stake in Intellicare Group

Fullerton Healthcare acquires 60% stake in Intellicare Group

By: 
PC Lee
11/12/17, 07:23 am

SINGAPORE (Dec 11): Fullerton Healthcare Corporation, which shelved its Singapore IPO last year, has entered into agreements to acquire a 60% stake in the Intellicare Group, one of the leading managed care providers in the Philippines.

See: Held back by the poison pen, will Fullerton Health give IPO plans another shot?

The joint press release did not disclose how much Fullerton Healthcare will pay for the stake.

Founded in 1995, the Intellicare Group comprises three companies: Asalus, a health maintenance organisation (HMO) engaged in the delivery of managed healthcare services via comprehensive, systematic and prevention-oriented health maintenance programmes; Avega, a provider of third party administration services to corporates as well as small and medium enterprises; and Aventus, a chain of nine outpatient multi-speciality clinics.

Fullerton Healthcare says the Philippines is an important market in Asia Pacific for the group, underpinned by attractive underlying growth drivers. Completion of the transaction is subject to the fulfilment of certain conditions and is expected to be completed in early 2018.

Last month, Ping An Capital Co, controlled by Ping An Insurance (Group) Company of China, and related parties led an investment of more than 800 million yuan ($163.25 million) in Fullerton Healthcare, effectively becoming its second largest shareholder.

See: Ping An is now second largest shareholder of Fullerton Healthcare after $163.3 mil investment

Right timing: Awaiting rebound amid accelerated decline

SINGAPORE (June 22): Here are two charts for your technical analysis this week: STI daiiy (3,356) The Straits TImes Index fell almost 70 points in the past five sessions after falling 80 points a week earlier. Down momentum is strong, but short-term indicators are becoming increasingly oversold. Short-term stochastics is at the bottom of its range, and 21-day RSI is at 30, a low level. ADX is at 32, a high level, suggesting that prices are likely to hit an excessively oversold level soon, at around mid-week next week. Volume was elevated on June 22, but once this abates, the index sh....
Read More >>

Noble up 30% on securing trade finance facilities, debt restructuring plan

SINGAPORE (June 22): Debt-laden commodities trader Noble Group said on Friday it had secured US$100 million ($136 million) in trade finance facilities from a group of investors, winning fresh support for a US$3.4 billion debt restructuring plan that is key to its survival. In a regulatory statement, Noble, once Asia's largest commodity trader, said a consortium of investors, which includes perpetual security holders Value Partners and Pinpoint Asset Management, will provide the three-year financing. The consortium, which owns about 5% of Noble stock, has agreed to back the restructuring. ....
Read More >>

Ho Bee to get a recurrent income boost from Ropemaker acquisition: Maybank

SINGAPORE (June 22): Maybank KimEng is raising Ho Bee Land’s FY18-20 EPS by 7-22% after incorporating the developer’s recent acquisition of Ropemaker Place in the UK. See: Ho Bee Land acquires Ropemaker Place in London for $1.16 bil Maybank said the deal puts Ho Bee’s conservative balance sheet to work and should enhance its recurring EBIT by 39%. And at a 7% discount to the vendor’s asking price and with yields at almost 50bps higher than prime office yields in the same locality, the price paid appears reasonable, added Maybank. After snapping up Ropemaker Place, a Grade A of....
Read More >>
High-value jobs, skilled talent in high supply at Iskandar Malaysia

SINGAPORE (June 18): Most companies setting up a division overseas struggle to find the right talent