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

IFC/World Bank HQ. Photo: IFC

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’s network of health care clients. IFC’s long term investment horizon suits the cash generation profile of the company, and the company and sponsors value IFC’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.

Also read:

Aura launches $5.5m healthcare fund, invests in Vietnam’s Pacific Holdings

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.