Deutsche Bank, Vinacapital invest in Hoan My Medical

Deutsche Bank AG’s DWS Vietnam Fund and Vinacapital Investment Management Ltd. invested $10 million each to take a 40 percent stake in Vietnam’s Hoan My Medical Corp., helping the healthcare group to expand its business.

Hoan My will build two more hospitals and two clinics in Ho Chi Minh City and upgrade three existing hospitals, Nguyen Huu Tung, Hoan My’s chief executive officer, said Tuesday. The company will also consider listing in the future, he said.

With the new investment, Ho Chi Minh City-based Hoan My will start focusing on patients with high incomes, Tung said. Founded in 1997, Hoan My has four hospitals with 620 beds and 300 physicians. It has assets worth 2 trillion dong ($112 million), Tung said.

Ho Chi Minh City-based Vinacapital manages $2 billion through Vietnam Opportunity Fund Ltd., Vinaland Ltd., and Vietnam Infrastructure Ltd. funds, which are listed in the UK, according to Andy Ho, Vinacapital’s managing director and head of investments.

Deutsche Bank’s $300-million DWS Vietnam Fund, started in 2007, is investing in listed and private equities in Vietnam, said Desmond Sheehy, managing director of Duxton Asset Management Pte., which is managing the fund.

thanhnien, bloomberg

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