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.
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.