Thomson Medical Group has completed the acquisition of FV Hospital. Thomson had agreed to acquire the Vietnamese group for up to 9 trillion VND or US$381.4 million ($517.1 million at the time) in July 2023.
The acquisition is the biggest in the healthcare sector to-date in Vietnam and the largest in Southeast Asia since 2020. It gives Thomson Medical Group A50 a strategic position in the Vietnamese market while unlocking a new era of growth for FV Hospital. The transaction also marks the former’s official entry into Vietnam and now makes Thomson one of the leading listed healthcare providers in Southeast Asia.
According to Thomson, its bid stood ahead of its competitors for its longer-term investment horizon and its focus on creating impact to the community and the wider healthcare fraternity.
“The acquisition of FV Hospital expands our presence to cover three of the region’s most important geographies in healthcare, giving us access to a flourishing market and a deep bench strength of talent, while providing critical inroads into neighbouring countries like Cambodia, Laos and Myanmar,” says Kiat Lim, executive vice chairman of Thomson Medical Group.
“Like the long-standing relationship that Singapore and Vietnam share, I look forward to a thriving partnership between Thomson Medical Group and FV Hospital that will continue to grow year on year to advance healthcare for Vietnam and the wider Southeast Asia region,” he adds.
“This acquisition is not just about the combination of two entities; it is about the fusion of expertise, the amalgamation of talent, and the collaboration of two healthcare giants coming together for a shared purpose. I look forward to working closely with Dr Jean-Marcel Guillon and his team to capitalise on FV Hospital’s strengths and leverage the breadth of Thomson’s expertise to make FV Hospital the Number 1 hospital in the Indo-China region,” says Dr Melvin Heng, CEO of Thomson Medical Group.
See also: Thomson Medical Group to acquire Vietnam's FV Hospital for up to $517.1 mil
Dr Guillon, CEO of FV called the acquisition an “extremely proud moment” for FV Hospital.
“[The acquisition] affirms FV Hospital's 20-year journey from conception to construction and now it’s continuous development. We are the leading medical facility in Vietnam and with the help of Thomson Medical Group's resources and our common leadership ideals, we will now be able to expand even quicker and achieve even greater goals,” he says.
As at 4.49pm, shares in Thomson Medical Group are trading 0.1 cent lower or 1.85% down at 5.3 cents.
