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

Singapore's Thomson Medical Group 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.