FV Hospital-Thomson Medical Group merger underlines Vietnam's increasing regional importance: Singapore diplomat

The FV Hospital-Thomson Medical Group merger emphasizes Vietnam's increasingly important role in the regional arena and highlights its ability to attract foreign direct investment, said Singapore consul general Kho Ngee Seng Roy.

It also marks the close trade ties that Vietnam and Singapore enjoy, he said at a Tuesday ceremony held at the Le Méridien Saigon Hotel in Ho Chi Minh City to announce FV Hospital becoming a member of Thomson Medical Group.

He noted that Singapore has been the leading investor in Vietnam for many years. The cross-border cooperation, knowledge sharing and common goal of improving the medical care system that both Thomson Medical Group and FV Hospital share are shining examples of what both countries can achieve through cooperation, he added.

Biggest healthcare M&A

Local and international media have reported the merger as the largest M&A transaction in the history of Vietnam's healthcare sector as well as the largest purchase in Southeast Asia's healthcare sector since 2020.

The $381.4 million transaction marks the official entry into Vietnam of Thomson Medical Group, a leading listed healthcare company in Southeast Asia with major operations in Singapore and Malaysia.

The fact that Thomson Medical Group had to outbid 20 other parties and offer a record-breaking purchase price for FV Hospital has confirmed the prominence and expanding status of the Vietnamese healthcare industry to which FV Hospital has significantly contributed over 20 years, the reports said.

The acquisition agreement further highlights the commercial attractiveness of Vietnam’s healthcare sector, they added.

Strategic foothold

Kiat Lim, executive vice president of Thomson Medical Group, said that the “acquisition of FV Hospital will help expand the group's presence in the Southeast Asia healthcare sector. FV Hospital provides a strategic foothold for Thomson in Vietnam and a gateway to develop and focus on future investments in this rapidly growing market.”

Melvin Heng, general director of Thomson Medical Group, said the deal was “not only a cooperation between the two organizations, but also an integration of expertise, a combination of talent and cooperation between two healthcare giants with a common purpose.”

“I look forward to working closely with Dr. Guillon and his team to inherit the advantages of FV Hospital and leverage Thomson's extensive expertise to make FV the No. 1 hospital in the Indochinese region.”

Listed on the main floor of the Singapore Exchange, Thomson Medical Group (SGX: A50) is one of the leading healthcare companies in Southeast Asia with operations in Singapore, Malaysia and Singapore.

Established in 1979, the group's Thomson Medical Pte Ltd is one of the largest private healthcare providers for women and children in Singapore. The group owns and operates the iconic Thomson Medical Center and a network of nearly 40 clinics and specialist medical facilities, providing outpatient women's and children's health services as well as services in diagnostic imaging, health screening, gynecological oncology, dentistry, dermatology, traditional medicine, musculoskeletal and sports medicine.

FV is the first 100% foreign-invested hospital in Vietnam. Since its opening on March 11, 2003, it has become one of the leading private hospitals in Vietnam. It is the first hospital in southern Vietnam to receive the JCI certification and has been re-accredited two times in a row.

FV, founded by Dr. Jean-Marcel Guillon and a group of French doctors, started the trend of attracting FDI into the medical industry in Vietnam. The hospital uses the most modern equipment and facilities and employs more than 1,500 people, including 236 well-trained, dedicated doctors, capable of treating even the most difficult cases. With a patient-centered approach, it has nursed ambitions to become "Asia's leading medical service provider".

The FV Hospital was a successful foreign investment project in the medical field, annually receiving and treating nearly 250,000 patients, about 25% of them foreigners living and working in Vietnam. Before the FV was launched, expats had to fly to Singapore, Thailand or their hometown for treatment.

As a member of Thomson Medical Group, FV can enhance its reputation as an even more reliable treatment center for a large number of international patients, thereby contributing to raising the reputation of the Vietnamese healthcare industry. The merger will better meet increasing demand for medical examination and treatment among Vietnamese people and attract a large number of international tourists to Vietnam for healthcare purposes, officials of both sides said.