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Nam Thang Long Hospital privatisation plan approved
Strategic investors could own up to 52.7 per cent of Nam Thang Long Hospital now that the Ministry of Transport has approved the hospital's privatisation plan.
Dau tu Chung khoan (Investment Securities) reported yesterday that Nam Thang Long Hospital has a capital of VND30 billion (US$1.3 million), equal to 3 million shares with a share value of VND10,000, with the government's stake at VND11.9 billion. The hospital has a capacity of 100 beds and is classified as a second-class hospital by the health ministry.
During the privatisation, the Ministry of Transport, on behalf of the government, will sell 26 per cent of the shares to the strategic investor under a private placement, 26.7 per cent of the shares to other investors in public auctions, and 17.3 per cent of shares to employees in the hospital with a favourable price. After the privatisation, the government will own 30 per cent of the hospital.
The strategic investor can purchase the shares that are offered in public auctions in order to raise the ownership to 52.7 per cent, which is enough to take control of the hospital's operation, before buying the remaining government's stake in the hospital.
According to the Transport Health Department under the Ministry of Transport, the strategic investor should be an enterprise that also works in the health sector with a similar business scale, which is equal to a minimum of 120 beds, and has equity of at least VND50 billion. The enterprise should have no accumulated loss and a pre-tax profit of at least 10 per cent of the revenue.
If the strategic investor is not operating in the health sector, it should have equity of at least VND200 billion, no accumulated losses, and a pre-tax profit of at least 10 per cent of the revenue.
All investors are required to not sell their stakes within at least five years after privatisation, provide plans to improve the quality of the hospital's performance, and maintain and attract high-quality employees to the hospital.
The number of investors that are interested in the privatisation of Nam Thang Long Hospital has increased recently after the transport ministry approved the privatisation plan, Nguyen Hong Truong, Deputy Minister of Transport, told local media at a meeting last week.
So far, more than 10 enterprises have registered in the competition to become the strategic investor of Nam Thang Long Hospital, Dau tu Chung khoan reported.
Among those companies, Viet Phu An Real Estate Co Ltd has been considered a strong candidate to become a strategic investor of the hospital.
Viet Phu An Real Estate Co Ltd has a capital of VND650 billion and operates in both real estate and health industry. The company also holds 3 per cent of the Lien Viet Post Bank and is investing in at least four hospital building projects such as Tri Duc Hospital and Hung Viet Tumour Hospital in Ha Noi.
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