Singapore-listed Thomson Medical Group (TMG) has announced that it had purchased FV Hospital, Vietnam’s largest private healthcare group, for USD 380 million. The purchase is the largest healthcare acquisition in Southeast Asia since 2020, and marks TMG’s strategic entry into one of the region’s fastest-growing economies, giving it a major presence in the country with a population of 98 million. Under the terms of the deal, TMG will acquire 100% of Far East Medical Vietnam Limited, which operates a range of healthcare facilities in Vietnam, including FV Hospital and a network of primary and specialist clinics.
First founded in 2003, the hospital is a popular destination due to the various healthcare services it offers, including care in over 30 medical specialties such as oncology, cardiology, ophthalmology, orthopedics, maternity and gastroenterology, and is also frequented by medical tourists from neighboring countries such as Cambodia, Laos and Myanmar. The hospital also has a gross floor area of over 280,000 square feet and a staff count of over 1,600 healthcare professionals, including over 200 doctors, and at the time of acquisition by TMG, was in the process of expansion with a new seven-floor structure.
The purchase of FV Hospital is expected to add significant scale and size to TMG, which is likely to benefit from Vietnam’s rapidly increasing healthcare spending-to-GDP ratio. Expanding medical tourism is also expected to provide more opportunities, with medical tourism from neighboring countries Laos and Cambodia expected to generate revenues of up to USD 2 billion in 2023, and spending on medical care expected to grow by double-digit percentages in the coming years.
(Sources: Thomsom Medical; The Straits Times)