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Thomson Medical Group Completes Acquisition of Vietnam’s FV Hospital

Thursday, December 21, 2023

SGX Mainboard-listed healthcare group Thomson Medical Group Limited (“TMG” or the “Group”), announced today that it has completed its previously announced acquisition of Far East Medical Vietnam Limited (“FEMV” or “FV Hospital”). The acquisition marks Vietnam’s largest transaction to-date and ranks among the top-tier healthcare acquisitions in Southeast Asia in the year.

FV Hospital, now a member of TMG, was founded in 2003 and has over 1,600 staff, which includes more than 200 Vietnamese and expatriate doctors. The inclusion of FV Hospital, expands TMG’s SEA footprint, which includes the iconic Thomson Medical Centre, Thomson Fertility Centre, and a vast network of specialist medical clinics and facilities in Singapore; as well as TMC Life Sciences Berhad in Malaysia, a multi-disciplinary healthcare organisation comprising a tertiary hospital and award-winning TMC Fertility Centre.

Kiat Lim, TMG’s Executive Vice-Chairman, said, “The successful acquisition of FV Hospital adds to Thomson's brand strength alongside Vietnam's leading healthcare institution, combining our wealth of medical expertise to better serve our customers. Crucially, this pivotal step will further propel our Group’s regional ambitions, expanding our network’s scale and enhancing our value proposition.”

The inclusion of FV Hospital in the Group will also serve to fortify TMG’s foundation for deeper penetration into the rapidly evolving Vietnamese healthcare market and positions it to capitalise on increasing domestic demand and substantial opportunities for growth in medical tourism, aligning with the Group’s commitment to advancing healthcare excellence in the region.

FEMV, in addition to its hospital operations, also runs an outpatient clinic known as FV Saigon Clinic at the heart of District 1, Ho Chi Minh City’s traditional business district. Additionally, its American Chiropractic Clinic business consists of a network of four clinics across Vietnam, which was acquired in 2022 to allow for expansion into chiropractic services and the development of sports medicine.

"This marks an incredibly proud moment for FV Hospital. It acknowledges the two-decade journey of building FV Hospital into a foremost authority in Vietnam's healthcare landscape. Now, backed by Thomson Medical's resources and shared leadership values, we anticipate an accelerated growth trajectory, propelling us towards even greater achievements," said Dr Jean-Marcel Guillon, Founder and CEO at FEMV.

This press release is to be read in conjunction with Thomson Medical Group’s announcement posted on the SGXNET on 21st December 2023.

About Thomson Medical Group Limited

Listed on the Mainboard of the Singapore Exchange, Thomson Medical Group Limited (SGX: A50) is one of the leading listed healthcare players in the South-East Asian region with operations in Singapore and Malaysia.

Established in 1979, the Group’s Thomson Medical Pte Ltd is one of the largest private provider of healthcare services for women and children in Singapore. It owns and operates the iconic Thomson Medical Centre and a network of specialist medical clinics and facilities providing outpatient women and children healthcare services and service offerings in diagnostic imaging, health screening, gynaecological oncology, dentistry, specialist dermatology, traditional Chinese medicine, musculoskeletal and sports medicine.

The Group’s operations in Malaysia under TMC Life Sciences Berhad is a multi-disciplinary healthcare company listed on Bursa Malaysia. It operates Thomson Hospital Kota Damansara, a tertiary hospital located in Kota Damansara, and the award-winning TMC Fertility Centre which is the industry leader in assisted reproduction in Malaysia. It also owns the proposed Thomson Iskandar Medical Hub in Johor Bahru, Malaysia.

The Group also owns a prime 9.23 ha freehold waterfront land, strategically located in Johor Bahru’s City Centre, with a proposed long-term plan to build an integrated healthcare city to meet the growing healthcare needs of the people in the region.

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