Thomson Medical Group Ltd: Bold move makes history
- Thomson Medical Group completed the acquisition of FV Hospital on 17 Jan 2024, biggest healthcare acquisition to-date in Vietnam and Southeast Asia since 2010
- FV Hospital – first JCI accredited hospital in Vietnam, plays a critical role in the advancement of healthcare in Vietnam
- FV Hospital has state of the art facilities and plans to expand capacity by c.35% via another new block
- FV Hospital could potentially raise Thomson Medical’s FY25F EBITDA by c.19%, based on our estimates
On 17 January 2024, Thomson Medical Group (Thomson Medical) successfully completed the acquisition of FV Hospital after approximately 6 months from its first announcement. The milestone was celebrated by government officials from both Singapore and Vietnam, including the Deputy Health Minister of Vietnam.
On 12 July 2023, Thomson Medical made a bold move to lock-in the biggest healthcare acquisition to-date in Vietnam and the largest in Southeast Asia since 2020 with the proposed acquisition of FV Hospital. We understand that Thomson Medical had secured a highly competitive bid, contending with several other interested parties including private equity firms making up a majority of the bidders. Thomson Medical acquired FV Hospital from 10 founders, including Dr Jean-Marcel and Quadria Capital.
Since July 2023, Thomson Medical has kickstarted its integration process and we understand the process is largely completed. With the official completion of the acquisition, Thomson Medical will accelerate its growth and expansion efforts.
