According to the official announcement of Thomson Medical Group (TMG - Singapore) on July 12, the group has agreed to buy FV Hospital for 381.4 million USD. TMG will pay an advance of about 359.6 million USD and pay an additional 21.8 million USD if FV Hospital achieves certain performance targets. TMG won over 20 other competitors in a competitive bidding process over the past 6 months.
TMG said that this event marked the largest healthcare transaction in Vietnam and the largest healthcare acquisition in Southeast Asia since 2020. Under the terms of the agreement, TMG acquired 100% of Far East Vietnam Medical Joint Stock Company ("FEMV"). FEMV is an operator of a series of healthcare facilities in Vietnam, including FV Hospital. TMG will pay for it through its own resources and debt.
“FV Hospital provides a strategic anchor for us in Vietnam and a gateway to grow and focus on future investments in this rapidly growing market,” said Kiat Lim, Executive Vice President of TMG.
FV was founded by Dr. Jean-Marcel Guillon and a group of French doctors in 2003. The hospital is located in District 7, Ho Chi Minh City, has 30 specialties, 200 inpatient beds, and an outpatient clinic, providing healthcare services to the people of Vietnam as well as neighboring countries such as Cambodia.
The hospital said it is still expanding its infrastructure as well as its treatment scale by expanding its cancer center; bone marrow transplant, kidney dialysis, IVF… as well as adding new outpatient treatment services.
FV Hospital was established in 2003. Photo source: FV Hospital
By acquiring FV Hospital, TMG expects to open up great opportunities in Vietnam, one of the fastest growing healthcare markets in Southeast Asia.
Previously, this group also had two other medical centers in Singapore and Malaysia.
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