Fullerton Health

What Fullerton Health does

Fullerton Health Pte Ltd, founded in 2010 and headquartered in Singapore, is a vertically integrated healthcare platform operating across nine Asia Pacific markets: Singapore, the Philippines, Indonesia, Hong Kong SAR, Vietnam, Papua New Guinea, Malaysia, China, and Australia. The group owns and operates approximately 550 healthcare facilities and partners with over 20,000 providers, serving more than 26,000 corporate clients and covering over 4 million lives, with more than 14 million healthcare transactions facilitated annually across primary care, specialty services, diagnostics, pharmacy, rehabilitation, ambulance, third-party administration (TPA), and HMO coverage. Major operating subsidiaries include Intellicare and AVEGA Managed Care (Philippines — HMO and TPA), Aventus Medical Care (Philippines clinic network), RadLink (diagnostic imaging in Singapore and Philippines), UrbanRehab, AM Pharmacy, Orchard Heart Specialist, Comfort Ambulance, and Tirta Medical Centre; recent acquisitions added AdMedika Group in Indonesia (Indonesia's largest TPA, completed June 2026 for $80–100M) and The ENT Clinic in Singapore (January 2026).

The company monetizes via a hybrid of per-member-per-month HMO administration fees, transactional fee-for-service across owned clinics, diagnostics and executive health screening, third-party claims administration for insurers and self-insured corporates, enterprise corporate wellness contracts, and direct-to-consumer telemedicine (S$24–39 per consultation on the Concierge app). Go-to-market combines enterprise field sales to HR and benefits decision-makers, channel partnerships with insurance brokers and HMO distributors, and consumer-facing digital platforms — LiveFuller (pan-APAC digital health) and the Fullerton Health Concierge app (Singapore telemedicine), with Singapore Post (SingPost) signed as a logistics partner for last-mile medication delivery. Technology stack spans the FHN3 network management system, the Plato clinic management system (integrated with Singapore GovTech's DigiMC), AVEGA's AGORA digital ecosystem, and AI applications for COVID-19 symptom triage, X-ray reading, and claims automation.

Revenue is not publicly disclosed; the Japanese trading house Mitsubishi Corporation acquired a 25% strategic stake in August 2025, validating the platform's APAC scale and serving as the entry point for serving Japanese multinational clients. Ownership remains primarily with management, with the AdMedika deal and SingPost healthcare-delivery MOU in 2026 signaling continued offensive geographic and ecosystem expansion rather than consolidation.

Name

Fullerton Health

Legal name

Fullerton Health Pte Ltd

Website

https://fullertonhealth.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Fullerton Health is a Singapore-headquartered, vertically integrated healthcare platform operating across nine Asia Pacific markets, owning ~550 facilities and partnering with 20,000+ providers to deliver managed care, TPA, primary/specialty/diagnostic, and telemedicine services to 26,000+ corporate clients covering 4M+ lives.

Ownership category

akta.pro rank

Product category

Integrated Corporate Healthcare Services

NAICS

HMO Medical Centers (621491), Ambulatory Health Care Services (621)

SIC

Services-Health Services (8000), Hospital & Medical Service Plans (6324), Services-Misc Health & Allied Services, Nec (8090)

akta.pro primary industry

Care Management & Population Health Program Administration (HLAEALAG)

akta.pro secondary industries

Group HMO Plans (FSAIAFAK), Chronic Condition Management & Remote Monitoring (e.g., diabetes, HTN) (HLALADAD)

Keywords

• Corporate healthcare services
• Primary care clinics
• Third-party administration
• Health maintenance organisation
• Occupational health screening

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Supply Chain

Revenue model

1. Managed Care Services: HMO/TPA membership administration, corporate healthcare plan management, claims processing, and provider network management for enterprise clients. Revenue generated through per-member-per-month (PMPM) fees and administration charges.
2. Healthcare Facility Operations: Owned and operated primary care clinics, specialty practices, diagnostic centers, and executive health screening facilities generating fee-for-service revenue from consultations, procedures, and diagnostic services.
3. Corporate Healthcare Solutions: Customized corporate wellness programs, occupational health services, vaccination programs, and employer-sponsored healthcare benefits. B2B2C model serving 26,000+ corporate clients across the region.
4. Third-Party Administration: Claims management, provider network management, and digital health services for insurance companies and self-insured employers through subsidiaries like AVEGA and AdMedika.
5. Telemedicine Services: Video consultation fees for direct-to-consumer telemedicine services delivered via the Concierge app. Consultation charges ranging from S$24-39 depending on time of service.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels7 records

Core offering

Fullerton Health operates a vertically integrated healthcare platform that delivers primary care, specialist consultations, diagnostic imaging, ambulance, pharmacy and rehabilitation services to corporate clients and individual patients across approximately nine Asia Pacific markets. Alongside its owned clinical network, the group provides third-party administration (TPA) and health maintenance organisation (HMO) plans through AdMedika, AVEGA and Intellicare, as well as corporate wellness, executive health screening, telemedicine, COVID-19 testing and vaccination programmes sold to over 26,000 corporate accounts.

Product overview

Fullerton Health operates a vertically integrated healthcare platform across 9 Asia Pacific markets (Singapore, Philippines, Indonesia, Hong Kong, Vietnam, Papua New Guinea, Malaysia, China, Australia), offering managed care, primary care, diagnostics, specialty services, and ancillary healthcare solutions. The platform comprises approximately 550 owned healthcare facilities and partnerships with over 20,000 providers. Core digital products include the LiveFuller app (comprehensive digital health platform with AI-enabled symptom checker), the Fullerton Health Concierge App (telemedicine and appointment management), and the AGORA platform (AVEGA's digital ecosystem for TPA services). The company offers Third-Party Administration (TPA) services, corporate wellness programs, COVID-19 testing/vaccination services, and executive health screening. Key subsidiaries include RadLink (diagnostic imaging), Comfort Ambulance, AM Pharmacy, UrbanRehab, and Orchard Heart Specialist. Recent acquisitions include AdMedika Group (Indonesia's largest TPA, 2026) and The ENT Clinic (Singapore ENT specialist, 2026). Strategic partnerships with SingPost (healthcare logistics) and Mitsubishi Corporation (data-driven healthcare solutions) expand the ecosystem.

Differentiator

Problem solved

Functional benefit

Brands

• AdMedika Group: Technology-based health administration and third-party administrator (TPA) services providing claims management solutions and healthcare services in Indonesia.
• AVEGA Managed Care
• Intellicare
• Aventus Medical Care
• LiveFuller
• Fullerton Health Concierge App

Products and services

• Telemedicine (LiveFuller / Concierge App)

Quantifiable outcome

• Over 14 million healthcare transactions facilitated annually
• +5 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

AI capability6 records

Feature7 records

Partnerships

18 partnerships are on record, tiered core and minor.

• Singapore Post (SingPost)coreStrategic or Co-development Partner · 14 May 2026SingPost and Fullerton Health signed an MOU to co-develop an integrated healthcare delivery ecosystem combining SingPost's nationwide logistics and warehousing infrastructure with Fullerton Health's clinical and pharmaceutical expertise. The partnership aims to deliver medicine and healthcare services to households across Singapore, supporting the country's super-aged society transition.
• Mitsubishi Corporation (via AVEGA)coreStrategic or Co-development Partner · 1 April 2026AVEGA (leading TPA provider in Philippines and part of Fullerton Health) entered into a pioneering partnership with Mitsubishi Corp. following its investment in Fullerton Health. The collaboration focuses on delivering data-driven healthcare solutions while expanding business opportunities in local and regional markets.
• Mitsubishi Corporation (via Intellicare)coreStrategic or Co-development Partner · 1 February 2026Following Mitsubishi's investment in Fullerton Health (parent of Intellicare Group), Intellicare Group partnered with Mitsubishi Corporation to deliver comprehensive HMO coverage, third-party administration, clinic-based services, and customized healthcare programs for Japanese companies operating in the Philippines. Mitsubishi contributes hospital management systems, healthcare supply chain solutions, and medical cost analytics.
• RadLinkcoreChannel Partner/ Reseller/ DistributorRadLink is a key partner providing diagnostic imaging services. RadLink Philippines won Specialty Clinic of the Year at Healthcare Asia Awards 2026 for its executive health screening center. Partnership includes collaboration on health screening services and radiology diagnostics.
• AM PharmacyminorChannel Partner/ Reseller/ DistributorAM Pharmacy is a subsidiary providing pharmaceutical services across Fullerton Health's Singapore clinic network.
• UrbanRehabminorChannel Partner/ Reseller/ DistributorUrbanRehab provides rehabilitation and physiotherapy services as part of Fullerton Health's integrated care network in Singapore.
• Orchard Heart SpecialistminorChannel Partner/ Reseller/ DistributorOrchard Heart Specialist provides cardiology services as part of Fullerton Health's specialty care network in Singapore.
• MicrosoftcoreTechnology or IntegrationMicrosoft is a technology partner supporting Fullerton Health's digital transformation initiatives across its healthcare platform.
• Health CatalystcoreTechnology or IntegrationHealth Catalyst is a technology partner supporting Fullerton Health's digital transformation and healthcare analytics capabilities.
• PlatocoreTechnology or IntegrationPlato is an enterprise technology company whose clinic management system (Plato) integrates with Fullerton Health's operations. Plato's CEO Remi Kanji endorsed Fullerton Health's DigiMC digital medical certificate system implementation.
• The Global FundcoreStrategic or Co-development PartnerFullerton Health Foundation partnered with The Global Fund for TB screening initiatives in Indonesia since 2018. The partnership has screened over 278,000 people across factories, city slums, prisons, boarding schools, and rural villages in high TB prevalence areas.
• Indonesia Ministry of HealthcoreStrategic or Co-development PartnerFullerton Health Indonesia has been appointed as Implementor Partner by Indonesia's Ministry of Health for TB screening since 2019, covering 150,000 people across high-risk populations in factories, boarding schools, and prisons.
• World Economic ForumcoreStrategic or Co-development PartnerFullerton Health is a member of the World Economic Forum's COVID-19 Action Platform (CAP) and a strong supporter of the Private Public Partnership initiative for the past four years. In January 2020, Fullerton Health participated in launching the 'Ending Workplace TB' initiative at Davos.
• Johnson & JohnsonminorStrategic or Co-development PartnerPartner in the 'Ending Workplace TB' initiative launched at the World Economic Forum in Davos in January 2020, alongside the Global Fund, Stop TB Partnership, and Philips.
• PhilipsminorStrategic or Co-development PartnerPartner in the 'Ending Workplace TB' initiative launched at the World Economic Forum in Davos in January 2020.
• Stop TB PartnershipminorStrategic or Co-development PartnerUN organization aiming to eliminate TB as a public health problem. Fullerton Health Foundation is partnered with Stop TB Partnership for TB screening programs in Indonesia, supported by Yayayan KNCV.
• AXA InsurancecoreChannel Partner/ Reseller/ DistributorAXA Insurance partnered with Fullerton Health to offer members unlimited complimentary teleconsultations and waiver of delivery fee for medication during the COVID-19 pandemic in 2020.
• Yayasan KNCVminorStrategic or Co-development PartnerIndonesian foundation partnered with Fullerton Health Foundation for TB screening initiatives, supporting workplace TB education and screening programs.

Scale indicators14 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Raffles Medical Group: Singapore-listed integrated private healthcare provider operating clinics, hospitals, and corporate health screening across Asia — directly comparable to Fullerton's vertically integrated model and corporate client base in Singapore and the region.
• Siloam International Hospitals: Indonesia's largest private hospital operator — directly comparable given Fullerton's AdMedika acquisition and Indonesia expansion, competing for corporate healthcare contracts and provider network share in the same market.
• Maxicare Healthcare Corporation: One of the largest HMOs in the Philippines providing corporate healthcare benefits and managed care programs — directly comparable to Intellicare and AVEGA, competing for the same enterprise clients and provider networks.
• Mitra Keluarga Karyasehat: Listed Indonesian private hospital operator serving primarily middle-class patients and corporate accounts — comparable in market position and corporate healthcare focus to Fullerton's Indonesian operations post-AdMedika.
• Healthway Medical: Singapore-based private healthcare group operating clinics and corporate health programs — directly comparable in geographic market, customer segment (enterprise healthcare), and integrated service offering.
• Medicard Philippines: Established Philippine HMO and healthcare benefits provider — directly comparable to Intellicare and AVEGA in HMO membership administration, corporate client base, and provider network competition within the Philippines.

Broad incumbents

• IHH Healthcare: One of the world's largest healthcare groups operating hospitals (Mount Elizabeth, Gleneagles, Pantai) across Malaysia, Singapore, Turkey, and India — a broader incumbent competing for premium enterprise and patient accounts in markets where Fullerton operates.
• Ramsay Health Care: Australia-headquartered global hospital operator with significant APAC footprint — broader incumbent comparable in scale and private healthcare delivery model, although not focused on TPA/managed care like Fullerton.

Regional players

• KPJ Healthcare: Malaysia's largest private hospital network with cross-border presence — comparable vertically integrated operator in a neighboring APAC market with overlapping corporate healthcare and managed care offerings.
• Bangkok Dusit Medical Services (BDMS): Thailand's largest private hospital operator with regional expansion across Southeast Asia — comparable integrated private healthcare platform, although primarily focused on Thailand rather than Fullerton's core markets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat7 records

Key risks5 records

Key highlights7 records

Customer concentration

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• Instagraminstagram.com/fullerton_health
• Xx.com/FullertonHealth

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries12 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fullerton Health