SINGAPORE (Aug 18): Fullerton Healthcare, the provider of corporate healthcare solutions which shelved its plans to list on the Singapore Exchange last year, has acquired Healthscope's medical centre (HMC) operations.

According to The Australian, the consideration for the acquisition was A$55 million ($59 million).

HMC currently holds a portfolio of 48 facilities comprising 43 medical centres, four specialist skin clinics and one specialist breast diagnostic clinic in Australia.

It is one of the largest primary care operators in the continent with over 350 doctors and about 1.8 million patients every year.

HMC’s decision to exit the centres follows a review and will allow its management to focus on hospitals and pathology operations, managing director and chief executive Gordon Ballantyne told the media in Australia.

Michael Tan, co-founder and group CEO of Fullerton Health, says, “This is an important acquisition for us, which reinforces our stated strategy of developing a strong presence in markets across the region, and specifically to broaden our network in Australia. Through this acquisition we will become the third largest primary care business in the country, and will be well positioned to support even more doctors and clinics.”

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