Singapore medical unit to pick stake in Vietnam’s hospital

Architecture of the hospital's new building

Brookline Medical Pte Ltd, a Singapore based company, has been reportedly the first foreign investor to register to buy shares of the Vietnam Central Transportation Hospital, the first clinic facility in Vietnam to be equitised.

(A website link at www.brooklinemedical.com is under construction and is connected to OncoCare Cancer Centre, which was established in 2007.)

The cancer treatment centre will be competing with multi-sector investment group T&T and property developer Vingroup to become the hospital’s strategic partner.

Vingroup is Vietnam’s leading realty company, which is also active in other related sectors, like retail and healthcare, with the private owned hospital system Vinmec.

Meanwhile, chairman of T&T Group, Do Quang Hien, the well-known businessman in the local football industry, has shown interest in acquiring the entire stake offered to strategic partners in the hospital’s initial public offer (IPO).

During a visit to the hospital last year, Vietnamese prime minister Nguyen Tan Dung had told its executives to find more strategic partners besides Vingroup and T&T.

As stated in the equitisation plan submitted to the Ministry of Transport’s Health Department last week, the Hanoi based hospital is valued at VND158.5 billion ($7.4 million), in which the state capital account for VND136.5 billion ($6.35 million).

With a charter capital of VND168 billion ($7.8 million), the state holding will remain at 30 per cent, while another 30 per cent will be sold to strategic partners and 31.3 per cent is scheduled for public offer. The capital is expected to reach VND430 billion after the equitisation.

The selected strategic partner must have a minimum charter capital of VND100 billion ($4.65 million). If it is a financial investor, the capital is required to be 10 times higher. The hospital also asks strategic partners not to sell their stakes for the first five years and commit to invest in the process of increasing capital, as the hospital is building a $15 million seven-storey facility.

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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).

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

  • 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.