VinaCapital to invest $25m in hospital operator Tam Tri Medical

Photo: Tam Tri Hospital's website

VinaCapital’s flagship fund VOF has announced that it will invest $25 million in private hospital operator Tam Tri Medical Joint Stock Company.

The transaction gives VOF a significant minority stake in the company, which operates four hospitals in south and central Vietnam, according to an announcement.

Tam Tri Medical is expected to use the capital to expand current facilities and acquire new facilities.

The Vietnamese company is led by CEO Dr Nguyen Huu Tung, who previously founded the Hoan My Medical Corporation that VOF had backed in 2009. Hoan My Medical was sold to an international investor in 2013.

“It is estimated that Vietnamese people annually spend over $2 billion for medical treatment overseas, clear evidence of the enormous opportunity for quality domestic healthcare services. Tam Tri is well positioned to capitalize on that, with well-regarded hospitals and a reputation for medical quality,” said VinaCapital chief investment officer Andy Ho.

Tam Tri Medical currently operates four general hospitals in Ho Chi Minh City, Dong Thap, Nha Trang and Danang, with approximately 500 beds and more than 700 employees. The company claims to be growing by more than 30 per cent per annum, as Vietnamese consumers look for alternatives to the public health system or travelling overseas to receive care.

The company is considering expanding its footprint nationwide, with a focus on Ho Chi Minh City, central and southern regions, particularly in the Mekong Delta.

Launched in 2003, VinaCapital Vietnam Opportunity Fund is a Guernsey-domiciled, closed-ended investment company listed on the London Stock Exchange.

Recently, VinaCapital officially decided to conclude its investment in poultry firm Ba Huan JSC after the firm sought the Prime Minister’s intervention in terminating its six-month-old investment partnership. As part of the agreement, all of the capital invested in Ba Huan by VinaCapital will be returned.

Also Read:

UPDATE: VinaCapital decides to conclude investment in Vietnamese poultry firm Ba Huan

VinaCapital launches $100m tech-focused venture capital fund 

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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.