FOUR months after Fullerton Healthcare Corp. Ltd. (Fullerton Health) entered the domestic market, its local subsidiaries Fullerton Health Philippines Holdings Corp. and Fullerton Health Philippines Pte. Ltd. have secured a long-term loan worth $40 million from the International Finance Corp. (IFC) to develop more of its vertically integrated managed care strategy in the country.
This investment from a member of the World Bank Group will help these business units to enhance their provision of affordable yet quality health care and improve efficiencies in the health maintenance organization (HMO) market. “Garnering the support of IFC as a long-term financing partner is a strong testament of what we have achieved, thus, far in the health-care sector across Asia Pacific, and validates our strategic partnership with the Intellicare Group to deliver a holistic approach to managed health care in the Philippines,” said Tam Chee Chong, CFO of Fullerton Health.
The credit facility will bankroll the expansion of one of the leading HMOs in the country, significantly increasing its reach.