Herbert Smith Freehills Kramer advises Mitsubishi Corporation on Southeast Asia healthcare investment

Herbert Smith Freehills Kramer has advised Mitsubishi Corporation on its investment in Fullerton Health, an integrated healthcare solutions provider headquartered in Singapore. The company operates healthcare facilities and provides corporate healthcare solutions across nine markets in Asia, including Indonesia, Philippines, Vietnam, and Hong Kong.

"Mitsubishi's investment in Fullerton Health will expand services as demand grows across Southeast Asia for quality private healthcare," said Peiwen Chen, co-head of private capital at Herbert Smith Freehills Kramer in Singapore. "Regionally, we are seeing more interest from private capital and strategic investors in healthcare and other consumer services sectors."

The firm supported Mitsubishi with cross-border due diligence, transaction documentation, competition and regulatory compliance, and warranty and indemnity processes.

“We are seeing increased activity in the Japan-Southeast Asia corridor, with growing interest from investors for regional assets,” said Asia managing partner Graeme Preston. “Japanese investors completed a record US$232 billion in outbound M&A deals in the first half of 2025, and Southeast Asia has benefitted as Japanese companies and funds seek growth abroad.”

The Asia team has been involved in several landmark healthcare acquisition deals in Southeast Asia, including Bain Capital’s US$157 million investment in Mayapada Healthcare Group, an Indonesian private healthcare business, and the US$1.2 billion sale of Sime Darby Health Care to Ramsay Health Care.

Peiwen and Graeme led the cross-border deal team, supported by partner Ee Lynn Tan, of counsel Yashvini Janakan, senior associates Jarry Tay and Ryu Long, and associates Kenji Lee, Lucy Gordon and Yu Xuan Ho in Singapore.

Corporate partner Joseph Fisher led the team in Tokyo, supported by senior associates Filip Gavanski and Alexander Chuprunov. Partners Stephanie and Cellia Cognard and associate Andy Sun provided support from Jakarta, while head of Asia competition Adelaide Luke and of counsel Howard Chan advised on compliance matters from Hong Kong.