Singapore Billionaire Peter Lim’s Thomson Medical To Purchase Vietnam Hospital Operator For $381 Million

Thomson Medical Group—managed by Singapore billionaire Peter Lim—has agreed to purchase hospital operator Far East Medical Vietnam for as a lot as $381 million because the Singapore-based healthcare firm expands its footprint throughout Southeast Asia.

The acquisition of Far East Medical Vietnam, which operates the FV Hospital in Ho Chi Minh Metropolis, together with a community of healthcare services and specialist clinics, can be funded by a mix of inner assets and borrowings, Thomson Medical mentioned in a press release.

Based by French physicians in 2003, FV Hospital operates a 220-bed hospital that gives healthcare providers. The hospital is constructing a brand new seven-story most cancers heart that may even present out-patient providers comparable to cardiology and urology. The hospital is tapping into rising demand, underpinned by Vietnam’s rising center class inhabitants in addition to its rising expatriate neighborhood and medical tourism.

“FV Hospital offers a strategic foothold for us in Vietnam and a gateway to develop and deal with future investments on this fast-growing market,” Kiat Lim, govt vice chairman of Thomson Medical, mentioned. Kiat, son of Peter Lim, initiated discussions and led negotiations with the FV Hospital homeowners for the previous six months.

In addition to his controlling stake in Thomson Medical, which operates hospitals throughout Singapore and Malaysia, Peter Lim additionally owns Spanish soccer crew Valencia CF. Final yr, he ventured into training, partnering with high British boarding college Wellington Faculties to arrange worldwide colleges throughout Southeast Asia.

The previous stockbroker, who now has a real-time internet value of $2.3 billion based mostly on Forbes’ information, made his fortune greater than a decade after cashing out from billionaire Kuok Khoon Hong’s palm oil big Wilmar.