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US private equity giant Warburg Pincus invests in Vietnam’s private hospital chain

US private equity giant Warburg Pincus invests in Vietnam’s private hospital chain

Tuesday, April 16, 2024, 16:00 GMT+7
US private equity giant Warburg Pincus invests in Vietnam’s private hospital chain
Part of Xuyen A General Hospital - Ho Chi Minh City in Cu Chi District. Photo: Xuyen A

U.S.-based Warburg Pincus, a leading global growth investor, announced on Monday its investment in Ho Chi Minh City-based Xuyen A (Trans-Asia), a major private general hospital group. 

The investment size has yet to be revealed but Warburg Pincus said it is currently the largest global private equity investor in Vietnam.

The firm’s investment in Xuyen A, with its full English name being Trans-Asia Hospital Investment Joint Stock Company, underscores its focus on Vietnam’s rapidly emerging healthcare sector, Warburg Pincus said on its website on Monday.

The private hospital group has built a reputation for medical excellence over the years and always strives to provide high-quality medical care at affordable prices, Warburg Pincus commented.

“We believe the private healthcare sector in Vietnam presents a tremendous opportunity for outsized growth, as the hospital infrastructure in the country is significantly underdeveloped,” said Saurabh Agarwal, managing director and head of Southeast Asia private equity at Warburg Pincus. 

Agarwal expressed his belief that his firm can help Xuyen A grow into a preeminent private hospital group in Vietnam while continuing to provide quality health services at affordable prices.

Xuyen A now owns and operates four large-scale, multi-specialty hospitals situated in densely populated cities in southern Vietnam, including its flagship hospital Xuyen A General Hospital - Ho Chi Minh City, located in the city’s Cu Chi District. 

Dr. Nguyen Van Chau, founder and CEO of Xuyen A, said the group is really pleased to partner with Warburg Pincus to speed up Xuyen A’s growth and “jointly build a next-generation leader” in the hospital industry in Vietnam. 

“Together with Warburg Pincus, Xuyen A will continue to explore opportunities to enhance our care offering, scale up through further greenfield or brownfield development, and strengthen our medical team,” Warburg Pincus quoted Dr. Chau as saying.

Xuyen A on the same day announced the launch of a new oncology center of excellence at its flagship hospital in Cu Chi, marking itself as one of the few private hospital groups in Ho Chi Minh City to offer a full suite of oncology services including chemotherapy, radiotherapy, and surgical oncology.

Since its founding in 1966, Warburg Pincus, headquartered in New York, has invested more than US$116 billion in over 1,000 companies globally across its private equity, real estate, and capital solution strategies, states its website.

As a leading global private equity firm focused on growth investing, Warburg Pincus has more than $83 billion in assets under management.

First investing in Vietnam in 2013, Warburg Pincus now has over $2 billion in market leading companies, such as Vincom Retail, MoMo, Techcombank, BW Industrial, and Lodgis, among others. 

These companies have collectively created over 40,000 jobs, contributing to Vietnam's economic growth and development. 

Warburg Pincus said it has completed two of the largest initial public offerings (IPOs) in Vietnam, namely Vincom Retail and Techcombank.

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Vinh Tho - Nhu Binh / Tuoi Tre News


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