On January 16, international development organization The Fred Hollows Foundation from Australia, eyecare company Rohto Pharmaceutical from Japan, and TVM Capital Healthcare, an emerging markets-focused healthcare private equity firm headquartered in Singapore and Dubai, jointly announced the successful completion of a substantial equity investment in Alina Vision, a prominent eyecare company currently managing two hospitals in Vietnam.

Founded in 2018 by The Fred Hollows Foundation, Alina Vision has received substantial financial support, eye surgery training, and clinical assistance over the last five years from the Foundation and Rohto Pharmaceutical. This support has facilitated the growth of Alina Vision, transforming it into a thriving organization with over 80 employees in two eye hospitals.

The investment by industry specialist growth capital investor TVM Capital Healthcare will provide Alina Vision with access to operational, clinical, training, and management resources, in addition to the equity investment, and accelerate its growth plans while elevating the quality of care.

“This deal marks the most substantial investment by TVM Capital Healthcare in the region to date,” said Ms. Hoda Abou-Jamra, Managing Director of TVM Capital Healthcare in Southeast Asia. “We look forward to working closely with the management team at Alina Vision to execute our mutually-agreed expansion plans. This investment is testament to our impact investment strategy, which is to design, build, and scale promising healthcare solutions that address patients’ needs and fill market gaps, ultimately contributing to equal access to quality healthcare.”

Mr. Ian Wishart, CEO of The Fred Hollows Foundation, added that it is pleased to have TVM Capital Healthcare on board to support the Foundation and Alina’s management team in scaling the business to help reduce avoidable blindness in Vietnam and the region. “Alina Vision already invests significant resources in recruiting and training ophthalmologists, optometrists, and nurses with our and Rohto’s help,” he said. “We can now enhance our efforts and execute on our growth plans.”

Alina Vision completed over 2,800 cataract surgeries in 2023 and plans grow its network to a chain of hospitals around Vietnam with significantly increased capacity. Cataracts represent the most common cause of blindness in individuals aged 50 years and over in the country, affecting mainly women. The demand for cataract surgeries is expected to rise significantly, surpassing existing capacity.