HANOI: VinaCapital Vietnam Opportunity Fund (VOF), a London-listed closed-end fund managed by VinaCapital, has sold its stake in Tam Tri Medical Joint Stock Company (TTMC), Vietnam’s leading private healthcare network, to a prominent healthcare-focused private equity firm in South and Southeast Asia. Financial terms of the deal were not disclosed.
VOF initially invested in TTMC in 2018 when the company operated four hospitals with around 400 beds. Over the past six years, VinaCapital supported TTMC in acquiring three additional hospitals and developing a flagship greenfield facility, potentially tripling its bed capacity and workforce. The network now handles more than 1 million patient visits and 20,000 surgical cases annually.
Dr. Nguyen Huu Tung, TTMC’s founder, credited VinaCapital for its role in the company’s growth, particularly during the COVID-19 pandemic. “VinaCapital’s support was crucial in helping us navigate challenges and emerge stronger,” he said. “We believe our new investor will accelerate TTMC’s next phase of growth, expanding access to affordable, high-quality healthcare in Vietnam.”
Khanh Vu, VOF’s lead portfolio manager, said the fund was proud to have contributed to TTMC’s expansion. “We worked closely with TTMC’s team, especially during the pandemic, to execute strategic acquisitions and build one of Vietnam’s top healthcare networks,” he said.
Vu noted that the sale, executed at a premium despite global economic headwinds, highlights VinaCapital’s ability to create value as an active investor. The divestment also frees up capital for new opportunities in Vietnam’s growing private sector, which the government has prioritized for development.
“Vietnam continues to offer compelling investment opportunities,” Vu said. “As a long-term investor, we’re excited to support this next phase of growth.”
VOF remains one of the largest closed-end funds focused on Vietnam, with investments spanning real estate, private equity and public equities.