Fullerton Health

completed

  IFC is considering a loan of up to US$40 million to Fullerton Health Philippines Holdings Corporation (“FHPC” or the “Company”), a subsidiary of Fullerton Healthcare Corporation Limited (“Fullerton Health” or "FHC” or the “Sponsor”). Through FHPC, the Sponsor will acquire a 60% controlling shareholding of the Intellicare group of companies (”Intellicare”). Founded in 1995, Intellicare is the Philippines’ leading Health Maintenance Organization (“HMO”) with over one million individual members. Intellicare consists of three companies: (i) Asalus Corporation (“Asalus”, branded as ‘Intellicare’), which provides HMO plans to corporate clients ; (ii) Avega Managed Care, Inc. (“Avega”), which provides third party administration services to corporate clients in managing their employees’ healthcare plans; and (iii) Aventus Medical Care, Inc. (“Aventus”), which provides outpatient care, including laboratory procedures, diagnostic tests, dental and physical therapy, through 9 multi-specialty clinics. It also operates a fleet of 8 mobile clinics (vans fitted out to conduct basic physical examination such as complete blood count, urinalysis, fecalysis, physical exam and x-ray) and provides onsite clinic management services for corporate clients. The Sponsor plans to use the proceeds of the loan to partially fund the acquisition of Intellicare, as well as to support the Company’s future funding of organic and inorganic roll out of related healthcare facilities.