Vietnam’s FV Hospital has officially become a member of the Singapore-listed Thomson Medical Group Limited (TMG) through a successful merger and acquisition (M&A) agreement worth more than VND9 trillion ($381.4 million).

The transaction represents the official entry into Vietnam of TMG, one of the leading listed healthcare providers in Southeast Asia with operations in Singapore and Malaysia. Acquiring FV Hospital gives TMG a strategic position in the Vietnamese market, while the merger unlocks a new era for FV Hospital. The management and medical team will remain on board to push FV forward to even bigger objectives.

The bidding process was highly competitive with multiple interested parties and private equity firms making up the majority of bidders, but TMG, a strategic investor with a long-term vision, made it to the final round. Its bid stood apart for its longer-term investment horizon and its focus on creating impact on the community and the wider healthcare landscape in Vietnam. This acquisition demonstrates the strong commercial potential of Vietnam’s healthcare sector. It also enables TMG to be present in three of the most important medical destinations in Southeast Asia: Singapore, Malaysia, and Vietnam.

“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 neighboring countries like Cambodia, Laos, and Myanmar,” said Mr. Kiat Lim, Executive Vice Chairman of TMG.

For his part, Dr. Melvin Heng, CEO of TMG, said the acquisition is not just about the combination of two entities, it is about a fusion of expertise, an amalgamation of talent, and cooperation between two healthcare giants for a shared purpose. “I look forward to working closely with Dr. Guillon and his team to capitalize on FV Hospital’s strengths and leverage the breadth of Thomson’s expertise to make FV Hospital the Number 1 hospital in the Indochina region.”

FV was founded by a group of French doctors led by Dr. Jean-Marcel Guillon. Starting operations in 2003, it began a trend that showed how FDI is possible in the Vietnamese healthcare sector. FV possesses modern advanced equipment and facilities with over 1,500 employees and 236 doctors capable of treating the most complex cases in 36 different specialties. It provides care for 250,000 patients annually, of whom 25 per cent are foreigners living and working in Vietnam.