Thompson Medical Group has acquired FV Hospital in Vietnam for USD 381.4 million, marking a significant milestone as the largest healthcare acquisition in the country and Southeast Asia since 2020.

Information on the Target

Thompson Medical Group has successfully entered into an agreement to acquire FV Hospital, a prominent healthcare facilities provider based in Vietnam, for a total consideration of USD 381.4 million. This transaction marks a significant milestone as it constitutes Vietnam's largest healthcare acquisition to date, as well as the largest in Southeast Asia since 2020. The acquisition includes an initial payment of approximately USD 359.6 million, complemented by an earnout of USD 21.8 million, reflecting both the value of FV Hospital and its promising growth potential.

FV Hospital, also known as Far East Medical Vietnam, reported revenues of VND 1,930.6 billion (roughly USD 81.6 million) and an EBITDA of VND 463.7 billion (approximately USD 19.5 million) for the fiscal year 2022. These figures translate into a notable enterprise value of USD 328.5 million, demonstrating a robust EBITDA multiple of 16.8x, positioning FV Hospital as a strategic asset within the region's healthcare landscape.

Industry Overview in Vietnam

The healthcare industry in Vietnam is on an upward trajectory, driven by a combination of rising healthcare demands, increased investment, and a growing private sector. Vietnam's population is increasingly open to utilizing private healthca