<article>International Finance Corporation (IFC) is considering extending a $10-million convertible loan to Ho Chi Minh City-based healthcare firm Pacific Holdings Vietnam.</article>

International Finance Corporation (IFC) is considering extending a $10-million convertible loan to Ho Chi Minh City-based healthcare firm Pacific Holdings Vietnam.
IFC said its proposed investment is aimed at helping Pacific Holdings expand its dental care business as well as set up a new polyclinic chain.
In addition, it will also assist the Vietnamese firm in skill development of medical professionals, and create new jobs.
“IFC will share best practices in different areas of operations, including facilitating introductions within IFC&#8217;s network of health care clients. IFC&#8217;s long term investment horizon suits the cash generation profile of the company, and the company and sponsors value IFC&#8217;s intention to remain as a long term investor,” IFC said in its disclosure.
Pacific Holdings has already established a footprint in Ho Chi Minh City, Hanoi and several secondary provinces. It is primarily focused on dental care through Kim Dental, which is Vietnam’s largest dental care provider with 26 clinics. It is now expanding into polyclinics (general health clinics) and physiotherapy (chiropractic) care.
Prior to this investment plan, Australia and Southeast Asia-focused fund manager Aura Group had launched its first $5.5-million healthcare special purpose fund to invest in Pacific Holdings. The Australian fund manager said the Aura Vietnam Healthcare Fund 1 was oversubscribed.
Pacific Holdings targets the growing middle-class population in Vietnam, for which it foresees a large and growing demand in the dental, polyclinic and physiotherapy care services.
The company is already profitable and plans to open approximately 30 dental clinics, 2 polyclinics and 7 physiotherapy clinics in the next 2-3 years.
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IFC said its proposed investment is aimed at helping Pacific Holdings expand its dental care business as well as set up a new polyclinic chain.

IFC mulls $10m financing for Vietnam's healthcare firm Pacific Holdings

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IFC mulls $10m financing for Vietnam's healthcare firm Pacific Holdings

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