Singapore-based Dale Investment acquires 73% stake in Vietnam’s Tam Tri hospital chain
Singapore-based investment fund Dale Investment Holdings has acquired a 73.15% stake in Vietnam’s private hospital chain Tam Tri Medical, according to a recent corporate registration update.
The stake includes nearly 80.6 million shares valued at over VND805.9 billion ($30.8 million).
Dale Investment Holdings is closely tied with Quadria Capital, which manages over $4 billion in assets and focuses exclusively on healthcare investments across South and Southeast Asia.
In its filings with the U.S. Securities and Exchange Commission, Dale said its co-founder Abrar Mir and CEO Ewan Davis are associated with Dale Investment.

Tam Tri hospital in Nha Trang town, Khanh Hoa province, south-central Vietnam. Photo courtesy of Thanh Nien (Young People) newspaper.
Founded in 2012, Quadria Capital is one of the region’s largest healthcare-focused private equity firms. In Vietnam, it previously held a major stake in Ho Chi Minh City-based FV Hospital before exiting the investment in 2023 for an estimated $300-400 million. It also invested $90 million in local baby and maternity retail chain Con Cung in 2022.
Dale’s acquisition of Tam Tri comes after the full divestment by Vietnam Opportunity Fund (VOF), a fund managed by VinaCapital. While the deal value was not disclosed, VOF said the stake was sold at a premium to one of the region’s foremost healthcare investors who understand the market and its enormous potential.
VOF initially invested $25 million in the healthcare chain in 2018, when it operated four hospitals with approximately 400 beds. The fund later injected an additional $21 million, bringing its ownership to 37.8% as of the end of April.
Established in 2013, Tam Tri now operates seven hospitals in HHCMC, the southern province of Dong Thap, the central city of Danang, and the central province of Khanh Hoa. It serves over one million patient visits and 20,000 surgical cases yearly.
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