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Commission Decision No. 09-M-006/2018 Acquisition by Fullerton Healthcare Corporation Limited of 60% Interest in Asalus Corporation (Intellicare), Avega Managed Care, Inc., and Aventus Medical Care, Inc.
ABSTRACT:
The transaction is the acquisition by Fullerton Healthcare Corporation Limited (Fullerton) of 60% of the issued and outstanding capital shares in Asalus Corporation (Asalus), Avega Managed Care, Inc. (Avega), and Aventus Medical Care, Inc. (Aventus).
Fullerton is a foreign corporation, and through its subsidiaries, engages principally in the provision of enterprise healthcare services and specialty service in Singapore, Malaysia, Indonesia, China, Australia and New Zealand.
Asalus Corporation is operating under the tradename of “Intellicare,” which was incorporated primarily to engage in the business of developing, maintaining, and promoting integrated medical and health maintenance services. It offers health maintenance organization (HMO) products primarily standard full HMO.
Avega is engaged in business of developing, maintaining, and promoting promoting integrated medical and health maintenance services, with the aim of providing a comprehensive, systematic and prevention-oriented concept of medical and health maintenance program, through the accreditation, integration and professional maintenance of the services of healthcare facilities and providers. It primarily offers third-party administration (TPA) type of HMO product.
Aventus is engaged in the business of establishing, owning, and managing medical clinics and medical or clinical laboratories, including drug testing laboratories, and providing medical and healthcare services and products.
Asalus, Avega, and Aventus are domestic corporations who are related parties.
Following the transaction, Fullerton owns 60% of the issued and outstanding capital shares of Asalus, Avega, and Aventus.