Singapore-based Thomson Medical Group has agreed to buy FV Hospital in Ho Chi Minh City for US$381.4 million in what will be Vietnam’s biggest ever healthcare industry deal.
The company, which has operations in Singapore and Malaysia, said in a press release Wednesday that it would acquire 100% of Far East Medical Vietnam Ltd, which owns the hospital.
“The acquisition of FV Hospital deepens our commitment to the Southeast Asian healthcare sector, expanding our group’s presence across three of the region’s most important geographies in healthcare,” Kiat Lim, TMG’s executive vice chairman, said.
FV Hospital provides the group with a strategic foothold in Vietnam and a gateway to future investments in the fast-growing market, he added.
FV was founded by Dr Jean-Marcel Guillon in 2003 with a group of French physicians.
Located in District 7, it has evolved into a full-service, one-stop provider of healthcare, including for people from Cambodia.
It offers over 30 specialties and has over 1,600 staff, who include more than 200 Vietnamese and expatriate doctors.
It also operates the FV Saigon Clinic in District 1.
TMG said that the accelerating healthcare demand in Vietnam is fueled by a rising middle class, an aging population and growing expatriate numbers.
It also sees Vietnam as a potential medical tourism destination, thanks to solid demand from neighboring countries like Cambodia, Laos and Myanmar.
Thomson Medical Group was established in 1979 and is one of the largest private providers of healthcare services for women and children in Singapore.