Fullerton Healthcare Corporation Limited (“Fullerton Health” or the “Group”), a leading provider of corporate healthcare solutions across Asia Pacific, today announced a significant investment from Ping An Capital Co., Ltd. (“Ping An Capital”), the core equity investment platform of Ping An Insurance (Group) Company of China, Ltd (“Ping An of China”).
To provide more affordable and accessible healthcare to its people, China has been reforming its healthcare system, starting with increasing medical spending, building capacity at the grassroots level and gradually increasing focus on supply side reform, reducing costs and improving efficiency.
Although China’s private healthcare market is still in its early stages of development, it has great potential due to the country’s rapid economic growth, favourable demographic changes, and low penetration rate of the existing enterprise healthcare service market. According to a 2016 Frost & Sullivan research report, China’s market for enterprise healthcare management will grow from $5.7 billion in 2010 to $21.1 billion in 2020.
Fullerton Health focuses on delivering enterprise healthcare services and currently serves over 25,000 companies. As a first step for its mainland China operations, Fullerton Health plans to establish approximately 100 clinics in major cities of Beijing, Shanghai and Guangzhou.
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