Livingstone Health announced, on March 8, that it has entered into a memorandum of understanding (MOU) with National Phytopharma Joint Stock Company and Truth Assets Management to evaluate healthcare projects opportunities in Vietnam.
The agreement was signed on Feb 25 and witnessed by Vietnam president Nguyen Xuan Phuc during his visit to Singapore.
According to Livingstone Health, the partnership will leverage its expertise to develop a Livingstone Health-branded hospital within Phytopharma’s land parcels in Hanoi and Ho Chi Minh City.
Phytopharma, which is one of Vietnam’s leading pharmaceutical companies, provides an integrated range of healthcare services and includes GSK and AstraZeneca as some of its key strategic partners.
Under the partnership, Livingstone Health will provide project ideation, design and strategy, and advice on operations and preparation, while Truth Assets Management will assess on potential healthcare project investment, development and expansion of Singapore-based healthcare services and opportunities in Vietnam.
Dr Wilson Tay, CEO of Livingstone Health, says, “We are excited to have made a strategic agreement with Phytopharma that will place Livingstone Health as a preferred partner in the Vietnam healthcare ecosystem.”
See also: Silverlake Axis launches in Vietnam with first official distributor partnership
“We intend to leverage Singapore’s strong background in medical tourism and the group’s expertise to expand into Vietnam, and hope to build upon our success to expand our footprint into tier two and three cities within the country,” he adds.
Shares in Livingstone closed 0.8 cent higher or 5.97% up at 14.2 cents on March 7.
Photo: Livingstone
