KUALA LUMPUR – Mitsubishi Corp is nearing an investment in Singapore-based Fullerton Health, people with knowledge of the matter said, as the Japanese firm seeks to expand in South-east Asia.
Mitsubishi is working with an adviser to buy about 25 per cent of Fullerton Health, a company backed by private equity firm RRJ Capital, the people said, asking not to be identified because the process is private.
Talks are at an advanced stage and an agreement could be reached as soon as this week, the people said.
Representatives for Mitsubishi and RRJ Capital did not respond to a request for comment, while Fullerton did not have an immediate comment.
Japanese companies have been eyeing assets in South-east Asia as they seek to expand and tap the region’s growth potential. In 2024, NTT Data Group bought a majority stake in Malaysian payments firm GHL Systems.
Fullerton Health was valued at close to US$1 billion (S$1.3 billion) when it agreed to sell a majority stake to Far East Drug in 2024, Bloomberg News reported at the time.
Founded in 2010, Fullerton Health owns 479 facilities for corporate healthcare solutions, health screening and diagnostics. It operates in nine markets in Asia, including the Philippines and Indonesia, according to its website.
It has more than 18,000 network providers and handles 12.5 million healthcare transactions a year. BLOOMBERG
