Quadria invests Singapore, Vietnam hospitals
Healthcare-focused private equity firm Quadria Capital has acquired stakes in Singapore medical center operator MWH Holdings and Vietnam’s FV Hospital.
Financial details and equity stakes have not been disclosed. Quadria invested via its third vehicle, which closed at $304 million in 2015. Funds managed by Neuberger Berman Private Equity and Germany’s DEG also participated in the FV deal.
The capital is expected to advance a number of expansion programs for MWH, including the establishment of a new specialty and diagnostic unit in Singapore. Quadria said it would offer networking support as MWH pursued partnerships in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Thailand and Vietnam.
MWH operates specialized medical facilities across Singapore, including the Singapore Heart, Stroke and Cancer Centre. Focus areas include cardiology, gastroenterology, orthopedics, urology, aesthetics, and ear, nose and throat.
Quadria will also back FV’s efforts to establish a network of diagnostic and treatment centers across central and southern Vietnam. FV currently operates a 220-bed hospital in Ho Chi Minh City with a staff of 950, including 130 doctors. In addition to the local population, the company receives patients from Cambodia, Laos and Myanmar.
“FV is well positioned to transform into a leading tertiary care provider in Vietnam, which will help improve access to quality care and treatment in the country and the neighboring region, a mission that is also integral to Quadria’s investment philosophy,” Abrar Mir, managing partner and co-founder of Quadria, said in a statement. “The Quadria partnership will enable FV to leverage Quadria’s experience in growing hospitals across the region, as well as other synergistic opportunities via Quadria’s portfolio and network.”
South and Southeast Asia are said to account for 40% of the global disease burden but only 5% of global healthcare spending. The World Health Organization estimates that heart disease alone results in about two million deaths a year in Southeast Asia.
Quadria has made at least 15 investments in South Asia and Southeast Asia since 2012. The Singapore and India-based firm claims about $1.5 billion in assets under management.
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