Hong Leong and TPG acquire all Columbia Asia Hospitals in Viet Nam

Monday, Sep 16, 2019 15:48

The Columbia Asia hospital chain in Viet Nam has a total capacity of 120 beds. — Photo Columbia Asia Hospitals

All three hospitals and clinics of Columbia Asia Hospitals in Viet Nam are now owned by Malaysia-based Hong Leong Group and global alternative asset firm TPG.

According to news website theleader.vn, they are among 17 Columbia Asia hospitals and two clinics in Southeast Asia that have been acquired by Hong Leong and TPG under a share purchase agreement between the two sides. The deal is valued at some US$1.2 billion and is expected to close as soon as the end of the year.

Currently, Viet Nam has two Columbia Asia hospitals in HCM City and the southern province of Binh Duong, and one clinic also in HCM City. With a total capacity of 120 beds across these healthcare centres, the Columbia Asia hospital chain has been filling the daily needs of local patients, with services ranging from medical, critical care, diagnostic and surgical.

In Viet Nam, the healthcare sector has received a constant flow of investment in recent years.

Earlier this month, the Binh Thanh Import-Export Production and Trade JSC (Gilimex) has announced its injection of nearly VND12 billion ($520,000) into a subsidiary that is going to implement the Tan Binh Hospital project. Gilimex will hold a 98 per cent stake in the hospital while the remaining part will be contributed by two other investors.

The company also purchased some 50,000 shares or 1.02 per cent of the Trieu An Private Hospital JSC.

Last year, TMMC Healthcare Group, which operates four private hospitals in HCM City, Dong Thap, Da Nang and Nha Trang, received $25 million from VinaCapital’s Vietnam Opportunity Fund (VOF) to fund its purchase of new equipment, hospital expansion and buyout of a new unit. — VNS

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