Singapore's Thomson Medical to buy Far East Medical Vietnam for $381 mln (updated)

Thomson Medical

12/07/2023 02:38

(Adds details of acquisition from second paragraph onward)
    By Himanshi Akhand and Yantoultra Ngui
       July 12 (Reuters) - Singapore's Thomson Medical Group
 THOS.SI  said on Wednesday it had entered an agreement to buy
Vietnam-based healthcare facilities provider Far East Medical
Vietnam Ltd for $381.4 million.
    The acquisition marks Vietnam's biggest-ever healthcare
transaction and Southeast Asia's largest healthcare acquisition
since 2020, Thomson Medical said in a statement.
    "The proposed acquisition will enable the group to enter
into Vietnam's growing private healthcare market driven by
favourable macroeconomic tailwinds with a significant growth
potential in healthcare expenditure," it also said in a stock
exchange filing.
        Thomson Medical purchased the company from its founders
and an affiliate of Quadria Capital Investment, an Asia
healthcare-focused private equity firm.
    The acquisition will be funded with internal resources and
borrowings from financial institutions and debt capital markets,
it added. 
    Far East Medical operates a range of healthcare facilies in
Vietnam, including FV Hospital in Ho Chi Minh city and a network
of primary and specialist clinics, according to Thomson Medical.
        
  

 (Reporting by Himanshi Akhand in Bengaluru and Yantoultra Ngui
in Singapore; Editing by Rashmi Aich and Edwina Gibbs)
 ((Himanshi.Akhand@thomsonreuters.com;))