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New Silkroutes Group & EGroup to open dental clinics

Released at: 15:17, 08/08/2018

New Silkroutes Group & EGroup to open dental clinics

Photo: NSG

Joint venture to establish network of dental facilities and clinics in Vietnam called "The Dental Hub International".

by Linh San

The New Silkroutes Group Limited (NSG) has announced that its subsidiary Healthsciences International Pte. Ltd (HSI) has entered into a joint venture agreement with Vietnam’s EGroup Education Group JSC (EGroup) to establish a network of dental facilities and dental clinics under the name “The Dental Hub International” in Vietnam.

HSI will hold 49 per cent of the joint venture and EGroup 51 per cent.

The first two flagship dental clinics will be opened in Hanoi and employ dentists and healthcare staff from both Singapore and Vietnam.

“EGroup has been in the education business for more than ten years,” said Mr. Nguyen Ngoc Thuy, Founder and Chairman of EGroup. “This partnership with NSG is our first foray into the medical business. We look forward to growing together with HSI. Although we are starting with dental clinics, our longer-term goal is to work with HSI to offer services in medical specialties as well.”

“We are blessed to have EGroup as partners in this venture, riding on Vietnam’s growing healthcare industry,” said Dr. Goh Jin Hian, Chief Executive Officer of NSG. “This collaboration marks the group’s first clinics in Vietnam, which is in line with our strategy of expanding our healthcare portfolio regionally. With a growing population and rising income levels in the region, we hope to strengthen our portfolio with more regional collaborations and enhance shareholder value.”

EGroup is a leading education-focused company based in Vietnam, providing various education programs for students as well as leadership and business skills e-training for the corporate sector. It intends to focus on the women and children market segments in Vietnam. By tapping into its extensive client base, EGroup aspires to expand its business offerings to include medical services, healthcare and healthy food.

Business Monitor International has estimated that healthcare expenditure in Vietnam in 2017 was $16.1 billion and believes the figure will grow to $22.7 billion in 2021. With the country’s resilient economic growth, demand for quality healthcare services is also expected to rise.

The New Silkroutes Group is a Singapore-incorporated investment holding company listed on the Mainboard of Singapore Exchange Securities Trading Ltd (SGX). The group, through its subsidiaries and associate companies, has businesses in the Energy/Resources and Healthcare sectors.

Healthsciences International Pte. Ltd. is a subsidiary of the New Silkroutes Group Limited and holds the group’s healthcare investments. The group’s medical investments are held through HSI Medical Pte. Ltd. whilst its dental investments are held through HSI Dental Pte. Ltd. (formerly known as HSI Nominees A Pte. Ltd.).

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