Fullerton Health Australia Announces Divestment in Fullerton Health Corporate Services (Aust) Pty Ltd
Fullerton Health Australia Pty Limited (“Fullerton Health Australia” or the “Company”), part of Fullerton Healthcare Group (“Fullerton Health”), announced today that it has entered into a share sale agreement to divest Fullerton Health Corporate Services (Aust) Pty Ltd (“FHCS”) to Gallagher Bassett Services, Inc. (“Gallagher Bassett”), the risk management services subsidiary of Arthur J. Gallagher & Co.
Founded in 1996, FHCS, formerly known as Corporate Services Network, provides third-party claims administration services to clients across Australia, with a focus on outsourced services including claims management, processing and administration services for insurance companies and brokers.
Following Fullerton Health Australia’s acquisition of Healthscope’s medical centre operations in August 2017, the Company has continued to invest in its direct clinical service businesses in Australia.
Ho Kuen Loon, Chairman of Fullerton Health Australia commented: “The divestment of FHCS is an important step towards focusing our activities away from corporate insurance administration services, and towards primary care and corporate healthcare solutions in Australia and New Zealand.”
Steven Harvey, Managing Director of Fullerton Health Australia, commented: "The sale of FHCS to Arthur J. Gallagher & Co will enable us to redeploy resources toward improving our core business segments. I would like to personally thank FHCS General Manager James Needle and his team for their valued contributions to Fullerton Health Australia. Going forward, I am confident that FHCS will continue its path of growth through providing the service commitment that it is known for as part of Gallagher Bassett."
About Fullerton Health
Fullerton Health is a leading vertically integrated healthcare platform. Founded in Singapore in 2011, today the Company serves clients through over 500 healthcare facilities and a large global network of healthcare providers across eight markets in Asia Pacific. Fullerton Health’s value proposition is the integration of healthcare service offerings with customized management and advisory capabilities, in line with its purpose to deliver affordable and accessible care for all in Asia Pacific.
For more information on Fullerton Health, please visit http://www.fullertonhealth.com/.
About Arthur J. Gallagher & Co.
Arthur J. Gallagher & Co. (NYSE:AJG), a global insurance brokerage, risk management and consulting services firm, is headquartered in Rolling Meadows, Illinois. The company has operations in 35 countries and offers client service capabilities in more than 150 countries around the world through a network of correspondent brokers and consultants.
For more information, please contact:
Group Communications & Relations
General Manager - Marketing and Communications
Gallagher Bassett Services Pty Ltd
P: +61 7 3005 1908