Quadria Capital invests in Vietnam’s FV Hospital & Singapore’s MWH Holdings

Patient undergoing an MRI. Credit: MWH Holdings

By Shiwen Yap

July 11, 2017

Private healthcare investor Quadria Capital has successfully completed investments in FV Hospital (FV) in Vietnam and also acquired a significant stake in MWH Holdings in Singapore, the holding company for the Singapore Heart, Stroke and Cancer Centre.

Financial terms of these transactions are undisclosed. Both investments originate from its third investment vehicle, Quadria Capital Fund L.P.

The FV transaction is the fund’s seventh investment since 2015 and saw participation from Neuberger Berman Private Equity and DEG (German Investment & Development Corporation), a subsidiary of KfW.

FV was founded by Dr Jean-Marcel Guillon in 2003 with a group of French physicians seeking to offer high-quality healthcare in Vietnam. The only JCI-accredited hospital in South Vietnam, it is located in the burgeoning District 7 of Ho Chi Minh City and has evolved into a full-service provider of quality care for the local population in and around the city.

With over 950 service staff, including 130 Vietnamese and expatriate doctors, FV provides care across more than 30 medical specialities at its 220-bed hospital. It also operates an outpatient clinic at the heart of District 1, Ho Chi Minh City’s traditional business district. In addition to catering for the local Vietnamese population, FV also receives patients from neighbouring countries of Cambodia, Laos and Myanmar.

According to Abrar Mir, Managing Partner and Co-Founder of Quadria Capital, FV is “well positioned to transform into a leading tertiary care provider in Vietnam, which will help improve access to quality care and treatment in the country and the neighbouring region”, and will see the partnership with Quadria enable the growth of the hospital brand across the region.

Vietnam is one of the fastest growing economies in Southeast Asia with income per capita experiencing double-digit growth in recent years. Riding on demographic changes including a rapidly expanding middle-income class and a higher incidence of lifestyle-induced diseases, demand for healthcare has been on the rise.

The partnership with FV will see them cater to the increasing demand for advanced care and become the go-to hospital for the middle to high-income population segment.

Meanwhile, MWH is a Singapore-based multi-specialty care group founded by Wendy Huang and supported by a team of specialists with core expertise in cardiology, ENT, gastroenterology, orthopaedics, urology and aesthetics, amongst others.

The company operates under four flagship brands: Singapore Heart, Stroke and Cancer Centre, Singapore Medical Specialists Centre, Singapore Centre for Medical Imaging, and the Face, Body and Skin Aesthetics Medical Center. It currently operates out of Paragon Medical Centre and will be expanding its operations this year with the establishment of a new centre located at Royal Square Novena, the latest mixed development in the Novena medical hub.

With the opening of this new centre, MWH will more than double its operations domestically as it seeks to add more specialities and expand its diagnostics capacity. It will also partner with local hospital operators in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Thailand and Vietnam, to provide advanced clinical services within their facilities.

Quadria Capital will support MWH’s regional growth ambitions through its existing hospital network and relationships for potential sites for MWH to offer its clinical services.

Also Read:

Exclusive: Quadria Capital to fully deploy PE, early-stage funds by Dec

India: HealthCare at Home raises $40m from Quadria Capital

SE Asia-focussed Quadria Capital to fully deploy $300m fund by March-end

India Digest: Vyome Biosciences, InCred Finance fundraise; Quadria Capital’s part-exit in Healthcare Global & Thomas Cook buys stake in Sita World

Quadria Capital raises $304m for Asia healthcare investments

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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. 
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