Singapore Billionaire Peter Lim's Thomson Medical To Buy Vietnam Hospital Operator For $381 Million

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Singapore Billionaire Peter Lim's Thomson Medical To Buy Vietnam Hospital Operator For $381 Million

Article originally published by Forbes. Hargreaves Lansdown is not responsible for its content or accuracy and may not share the author's views. News and research are not personal recommendations to deal. All investments can fall in value so you could get back less than you invest.

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12 Jul 2023

Thomson Medical Group—controlled by Singapore billionaire Peter Lim—has agreed to buy hospital operator Far East Medical Vietnam for as much as $381 million as the Singapore-based healthcare company expands its footprint across Southeast Asia.

The acquisition of Far East Medical Vietnam, which operates the FV Hospital in Ho Chi Minh City, along with a network of healthcare facilities and specialist clinics, will be funded by a combination of internal resources and borrowings, Thomson Medical said in a statement.

Founded by French physicians in 2003, FV Hospital operates a 220-bed hospital that provides healthcare services. The hospital is building a new seven-story cancer center that will also provide out-patient services such as cardiology and urology. The hospital is tapping into rising demand, underpinned by Vietnam’s rising middle class population as well as its growing expatriate community and medical tourism.

“FV Hospital provides a