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Hoan My strikes new M&A deal

Released at: 10:39, 19/10/2016

Hoan My strikes new M&A deal

Photo: Hoan My

Singaporean medical group purchases private hospital and clinic network in Binh Duong province.

by Hong Nhung

The Hoan My Medical Corporation officially announced the acquisition of the Van Phuc private hospital and clinic system in southern Binh Duong province on October 17.

With the merger and acquisition (M&A) Hoan My raises its hospital and clinic numbers to 12 (nine hospitals and three private clinics) around Vietnam, up from eight. “We have been in negotiations over this deal for about six months,” Mr. Huynh Le Duc, CEO of Hoan My, told VET.

The Van Phuc private hospital and clinic system was founded in 2011 in Binh Duong and after four years of operations has called for investors. Its network includes two general hospitals - Van Phuc 1 and Van Phuc 2 - along with two clinics. Van Phuc 1 has 200 beds and Van Phuc 2 120, which it was planning to increase to 200 in the future. It can treat about 500,000 patients each year.

Hoan My Medical Corporation is a foreign-invested private hospital owned by Singapore’s Clermont Group and focuses on medical care for Vietnamese people. Clermont constantly expands its network to meet increasing local healthcare demand.

This is the second M&A deal involving Hoan My this year, following its purchase of a controlling stake in Vinh International Hospital in north-central Nghe An province in March.

It now has eight members, including seven hospitals and one clinic: Hoan My Saigon, Hoan My Da Nang, Hoan My Cuu Long in Can Tho city, Hoan My Da Lat, Hoan My Minh Hai in Ca Mau province, Dong Nai International Hospital, Vinh International Hospital in Nghe An, and Hoan My Saigon Clinic.

Founded in 1997, Hoan My was one of the first private medical service providers in the domestic market and is now the largest in Vietnam in terms of presence. “We continue to seek new opportunities for development and to provide high quality healthcare services at a reasonable cost to Vietnamese people around the country,” Mr. Duc said. “Through this M&A deal we hope to meet demand for various medical services in Binh Duong in particular and in the south in general.”

In related news, the US’s Quantus, Inc has recently announced it will invest in a hi-tech hospital at the Saigon Hi-Tech Park (SHTP) in Ho Chi Minh City’s District 9. The US company signed a memorandum of understanding (MoU) with SHTP’s Management Board on the investment last month.

The project’s total capital is expected to be around $500 million and construction will be carried out in two phases. According to SHTP, the project will have 25-storey and 12-storey buildings on an area of 7 ha, with a hi-tech hospital, a life science research and development institute, a residential area for patient relatives, a VIP area, and a trade center.

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