Fullerton Health could turn to courts for rescue as woes mount and white knight seems elusive

SINGAPORE'S troubled Fullerton Healthcare (Fullerton Health) could be left with little option but to go down the judicial management (JM) path as time runs out and a sour shareholder stand-off jeopardises any potential sale to rescue the private healthcare solutions firm.

"Clearly, the (sale) process has gone on for very long with a lot of names thrown around... this sale has not materialised for various reasons and this has led to this whole conversation on JM," a reliable source told The Business Times (BT).

Fullerton Health, a "pan-regional platform" that offers corporations everything from health insurance plans and access to a network of healthcare providers to benefit plans, and also provides primary care and diagnostics, counts Hong Kong-based private equity (PE) firm RRJ Capital as its largest creditor.