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HO CHI MINH CITY - VinaCapital Vietnam Opportunity (SO:FTCE11B) Fund (LSE:VOF), a London-listed investment fund, has divested its stake in Tam Tri Medical (TASE:BLWV) Joint Stock Company (TTMC), a prominent Vietnamese healthcare provider, to a notable healthcare-focused private equity firm in South and Southeast Asia. The terms of the sale, completed today, have not been made public.
VOF first invested in TTMC in 2018, when the healthcare group operated four hospitals. Since then, VOF has supported TTMC’s expansion, including the acquisition of three additional hospitals and the initiation of a new flagship hospital project. This expansion is expected to significantly increase TTMC’s operational capacity.
The sale marks the end of a successful partnership between VOF and TTMC, which has seen the healthcare provider grow to serve over one million patient visits and conduct 20,000 surgical cases each year. Dr. Nguyen Huu Tung, Founder of TTMC, praised VinaCapital for its vital role during the company’s growth, particularly through the challenges of the COVID-19 pandemic.
Khanh Vu, Lead Portfolio Manager at VOF, highlighted the sale as a testament to VOF’s ability to add value through active investment and collaboration with portfolio companies. The divestment is also notable for the premium price achieved, despite the current global economic uncertainty and a challenging private equity landscape.
The transaction is significant for VOF, freeing up capital for potential new investments. The fund continues to seek opportunities in Vietnam, aligning with the government’s initiative to develop the private sector.
This move is in line with VOF’s strategy of medium to long-term investments in Vietnam or in companies with significant Vietnamese operations or market presence. Managed by VinaCapital Investment Management Ltd, VOF has been a long-term investor in Vietnamese enterprises, capitalizing on the country’s growth potential.
The information provided is based on a press release statement from VinaCapital Vietnam Opportunity Fund.
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