Thomson Medical Group A50 has announced that it has completed its previously announced acquisition of Far East Medical Vietnam (FEMV) for US$352.8 million ($469.0 million).
According to the company, the acquisition marks Vietnam’s largest transaction to-date and ranks among the top-tier healthcare acquisitions in Southeast Asia for the year.
FEMV was founded in 2003 and has over 1,600 staff, which includes more than 200 Vietnamese and expatriate doctors. Its inclusion will expand Thomson Medical’s Southeast Asian footprint, which includes Thomson Medical Centre, Thomson Fertility Centre, a network of specialist medical clinics and facilities in Singapore, as well as TMC Life Sciences Berhad in Malaysia.
Thomson Medical says the acquisition will also serve to fortify its foundation for deeper penetration into the rapidly evolving Vietnamese healthcare market and position it to capitalise on increasing domestic demand and substantial opportunities for growth in medical tourism, aligning with the group’s commitment to advancing healthcare excellence in the region.
Kiat Lim, Thomson Medical’s executive vice-chairman, says: “The successful acquisition of FEMV adds to Thomson's brand strength alongside Vietnam's leading healthcare institution, combining our wealth of medical expertise to better serve our customers. Crucially, this pivotal step will further propel our group’s regional ambitions, expanding our network’s scale and enhancing our value proposition.”
In addition to its hospital operations, FEMV also runs an outpatient clinic known as FV Saigon Clinic at the heart of District 1, Ho Chi Minh City’s traditional business district. Additionally, its American Chiropractic Clinic business consists of a network of four clinics across Vietnam, which was acquired in 2022 to allow for expansion into chiropractic services and the development of sports medicine.
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FEMV’s founder and CEO Dr Jean-Marcel Guillonsays: “This marks an incredibly proud moment for FV Hospital. It acknowledges the two-decade journey of building FV Hospital into a foremost authority in Vietnam's healthcare landscape. Now, backed by Thomson Medical's resources and shared leadership values, we anticipate an accelerated growth trajectory, propelling us towards even greater achievements.”
Shares in Thomson Medical closed 0.1 cents lower or 1.75% down at 5.6 cents on Dec 21.
