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[VIDEO] Vietnam Healthcare M&A Heats Up
In June 2025, Dale Investment Holdings — affiliated with healthcare-focused private equity firm Quadria Capital — announced the acquisition of a 73% stake in Tam Tri Medical. Established in 2013, Tam Tri operates seven hospitals across Ho Chi Minh City, Dong Thap, Da Nang, and Khanh Hoa provinces. Quadria Capital, one of the region’s largest healthcare investors, previously held a major stake in FV Hospital, which it exited in 2023 for an estimated USD 300–400 million, to Singapore’s Thomson Medical Group.
This follows several other notable investments in Vietnam’s healthcare space earlier this year:
- Mekong Enterprise Fund IV invested in TNH Hospital Group
- Singapore’s sovereign wealth fund GIC backed Nhi Dong 315, a fast-growing clinic chain specializing in pediatrics, maternity, and vaccinations
- China’s Livzon Pharmaceutical Group acquired a 64% stake in Imexpharm from Korea’s SK Group
These developments reinforce our view that Vietnam’s healthcare sector is on a sustained growth trajectory, driven by:
- Low healthcare spending per capita
- Rising incomes and urbanization
- Growing demand for higher-quality and accessible healthcare services
- A favorable policy environment for private and foreign capital
Foreign investors are increasingly recognizing these tailwinds, as shown by the size and pace of recent M&A activity. We expect this trend to continue across hospitals, clinics, and pharmaceutical firms.
Explore the healthcare sector’s dynamics and outlook here:
Click here to read the full report for a deeper dive into the key drivers, recent deals, and future prospects of Vietnam’s healthcare industry.
