DFC pledges $18 mln investment in health firm to expand Vietnam operations
The U.S. International Development Finance Corporation (DFC) has approved an equity investment of $18 million in BuyMed Pte Ltd. to help the Singapore-registered healthtech firm strengthen its Vietnam operations.
With the funding, BuyMed will expand pharmacies, clinics, and hospitals’ access to pharmaceutical products in rural areas and increase transparency and compliance within the healthcare industry in Vietnam, DFC announced Saturday.
DFC added the financing is among the approved 17 new transactions totaling more than $655 million of investment for businesses in regions worldwide.
Representatives of BuyMed’s B2B platform thuocsi.vn and Durex launch their strategic partnership in Vietnam in June 2022. Photo courtesy of BuyMed.
This February, BuyMed raised $33.5 million in a Series B funding round led by UOB Venture Management, part of Singapore’s United Overseas Bank (UOB).
Launched in 2018, BuyMed operates thuocsi.vn, a business-to-business pharmaceutical distribution platform serving thousands of pharmacies and clinics across Vietnam.
The platform runs two distribution hubs in Ho Chi Minh City and Hanoi, Vietnam’s two largest cities, to supply other parts of the country. It also has a delivery center in Dong Nai province next to HCMC to process orders from southern provinces.
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