Hanoi, 28 December 2020 – A consortium led by GIC (“GIC”) has invested in VMC, the parent of Vinmec, the premier private hospital developer and operator in Vietnam. The consortium shall collectively invest approx. VND4.7 trillion (approx. US$203.1 million) which will be used towards the expansion of Vinmec medical network, to pursue breakthroughs in excellence of care and patient treatment.
Following the transaction, Vingroup Joint Stock Company (“Vingroup”) will continue to be the sole controlling shareholder of VMC. GIC will receive a share of income from VMC proportionate with its equity interest, whilst Vingroup will continue to reinvest all income into the business, in line with the group’s existing commitment that its investment in healthcare will remain non-profit.
Vinmec aims to collaborate with GIC to continue to pursue operational excellence and leverage on GIC’s extensive expertise and investments in the healthcare sector globally, including GIC’s partnership with Metro Pacific Hospital Holdings, Inc. in the Philippines since 2014. The investment further emphasizes the attractiveness of Vinmec’s comprehensive suite of service offerings and leadership in the development of quality private healthcare.
Credit Suisse (Singapore) Limited acted as sole financial advisor to VMC.
Additional information
Vinmec is a subsidiary of Vingroup and is a premier private hospital operator in Vietnam, dedicated to delivering international standard quality healthcare to the Vietnamese population. Vinmec currently operates a network of seven international hospitals and five clinics across Vietnam. It is the first hospital to secure two JCI accreditation for Vinmec Times City International Hospital and Vinmec Central Park International Hospital. For more information on Vinmec, please visit Vinmec’s website at www.vinmec.com
Vingroup is the largest private enterprise in Vietnam. Vingroup’s main focus is on Technology (including scientific research and application of Technologies), Industrials (mobility and smart devices) and Services (residential, commercial and hospitality real estate development, education and healthcare). With the mission “To Create a Better Life for the Vietnamese People”, Vingroup aspires to offer products and services that adhere to international standards and introduce a modern lifestyle to its customers. For more information on Vingroup JSC (HOSE: VIC), please visit Vingroup’s website at www.vingroup.net
GIC is a leading global investment firm established in 1981 to manage Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. In private equity, GIC invests through funds as well as directly in companies, partnering with its fund managers and management teams to help world class businesses achieve their objectives. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,700 people across 10 offices in key financial cities worldwide. For more information about GIC, please visit www.gic.com.sg.