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The largest M&A deal in Vietnam’s healthcare industry

The largest M&A deal in Vietnam’s healthcare industry

Tuesday 18, 07 2023
A Singapore-based company has reached an agreement to acquire shares of Phap Viet Hospital (FV Hospital), which makes it become the largest M&A deal in Vietnam in the healthcare sector.

The largest deal ever

Thomson Medical Group, the company of billionaire Peter Lim, has just agreed to acquire a controlling stake in FV International Hospital (France Vietnam International Hospital) for $381.4 million, marking the largest deal ever to date in the healthcare sector in Vietnam, according to Bloomberg.

Vietnamcredit Thomson Medical Group

According to a press release published on July 12, the Singapore-based business will pay approximately $359.6 million in advance and an additional $21.8 million if FV Hospital meets the performance requirements. Thomson Medical Group will finance this transaction with the company's own sources and borrowed capital.

“FV Hospital will give us a strategic position in Vietnam,” said Mr. Kiat Lim, Vice President at Thomson Medical.

FV Hospital was established in August 2008 by Doctor Jean-Marcel Guillon and a group of French doctors with the goal of bringing international standard medical services to Vietnam. The hospital has 220 beds and 950 staff of doctors and nurses, operating an outpatient clinic at Nguyen Luong Bang Street, District 7, Ho Chi Minh City. The hospital also treats patients from neighboring countries such as Cambodia, Laos and Myanmar.

Overview of FV Hospital

FV is a 100% foreign owned private hospital with an initial charter capital of VND 224 billion. In June 2017, Quadria Capital - Asia's leading private equity fund specializing in investing in the healthcare sector completed its investment in FV and became a major shareholder of this hospital. The investment amount was not disclosed.

Vietnamcredit FV Hospital

According to the latest information disclosure, in October 2021, FV Hospital has increased its charter capital to VND 520 billion ($27 million) and Dr. Jean-Marcel Guillon is the legal representative and General Director.

FV also considered an IPO in Vietnam. According to DealStreetAsia, this decision is likely to be made by the end of 2019. But so far this plan has not come true.

In 2022, Bloomberg reported that Quadria Capital intended to sell its stake in FV Hospital. If this deal goes through, Quadria could earn between $300 million and $400 million.

In addition, at that time, other owners of FV Hospital, including co-founder and CEO Jean-Marcel Guillon, could sell part or all of their shares in this hospital.

Vietnamcredit FV Hospital

According to the plan, in 2023, FV Hospital will put into operation one more general clinic and diagnostic center in the center of Ho Chi Minh City. In 2025, this hospital will inaugurate another 7-storey building in District 7, Ho Chi Minh City and plan to open more clinics in other provinces.

Source: Bloomberg, vietnambiz

Compiled by VietnamCredit

Categories
M&A

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