Singaporean healthcare provider Thomson Medical Group has acquired FV Hospital, a private hospital in Ho Chi Minh City, Vietnam.

The acquisition is valued at around VND9,000bn ($381.4m) and is Thomson Medical Group’s first entry into the Vietnamese market, adding to its presence in key South-East Asian medical markets such as Singapore and Malaysia.  

It was secured by Thomson Medical Group after a ‘competitive’ bidding process, with numerous private equity firms placing bids for the hospital.

Thomson Medical Group executive vice-chairman Kiat Lim said: “The acquisition of FV Hospital expands our presence to cover three of the region’s most important geographies in healthcare, giving us access to a flourishing market and a deep bench strength of talent, while providing critical inroads into neighbouring countries like Cambodia, Laos and Myanmar.

“Like the long-standing relationship that Singapore and Vietnam share, I look forward to a thriving partnership between Thomson Medical Group and FV Hospital that will continue to grow year on year to advance healthcare for Vietnam and the wider South-East Asia region.”

FV Hospital specialises in providing care across more than 30 medical and surgical specialities, including oncology, cardiology and orthopaedics.  

It has more than 200 operating beds, employs 1,500 staff members and serves 250,000 patients a year, 25% of whom are foreigners living and working in Vietnam.

Following this transaction, FV Hospital's current management and medical team will continue to operate the hospital.

The team is led by Dr Jean-Marcel Guillon, who co-founded the hospital in 2003.

Dr Guillon said: “This is an extremely proud moment for FV Hospital, affirming FV Hospital’s two-decade journey from conception, construction and its continuous development.

“We are one of the leading medical facilities in Vietnam and with the help of Thomson Medical Group’s resources and our common leadership ideals, we will now be able to expand even quicker and achieve even greater goals.”