VinaCapital buys stake in Hanoi private hospital

By Dat Nguyen   August 12, 2020 | 07:30 pm PT
VinaCapital buys stake in Hanoi private hospital
Thu Cuc International General Hospital in Tay Ho District, Hanoi. Photo courtesy of the hospital.
VinaCapital has acquired a 30 percent stake in Thu Cuc International General Hospital in Hanoi for $26.7 million.

An indirect subsidiary of the fund management company, Singapore-based Aldrin One Pte. Ltd., bought the stake, and the hospital’s charter capital rose 2.9 percent to VND355 billion ($15.3 million), according to the National Business Registration Portal.

VinaCapital said in a statement its representative would sit on the board of Thu Cuc.

Thu Cuc, established in 2011, employs over 1,400 staff including 230 doctors. Last year it opened a 5,000-square-meter general clinic and this year completed a 10-story expansion of the main hospital to more than double its in-patient capacity.

The hospital is the latest in a list of healthcare providers VinaCapital has invested in over the years, including Hoan My Medical Corporation and Tam Tri Medical Corporation that have hospitals in the central and southern regions, and Thai Hoa International Hospital in the Mekong Delta region.

VinaCapital, which has 8 percent of its total investments in the health care and pharmaceutical sectors, said as Vietnam's middle class continues to expand, people are seeking greater access to private medical services.

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