FV Hospital

The Challenge

Vietnam faces significant healthcare challenges due to its ageing population and the rise of chronic diseases, which account for 10 of the 12 leading causes of death.[1] Despite spending over USD 18.5 billion on healthcare in 2022,[2] the public sector is overburdened, with inadequate infrastructure and facilities, particularly in provincial hospitals. Chronic overcrowding has been a persistent issue since 2004, with hospital bed occupancy rates exceeding 100%.[3]

Moreover, demographic shifts, such as the rising urban middle class and a shift towards a westernised lifestyle, have led to an increased prevalence of non-communicable diseases like cancer, diabetes, and cardiovascular diseases. Additionally, there is a significant shortage of healthcare workers and ongoing training opportunities, with Vietnam having only 12.5 physicians and 32 hospital beds per 10,000 people.[4]

The healthcare challenges Vietnam faces underscore the urgent need to address these gaps and improve the country’s healthcare infrastructure.

FV Hospital’s Solution

FV Hospital (FVH) is one of Vietnam’s leading tertiary multi-specialty hospitals. Founded by Dr. Jean-Marcel Guillon in 2003, FVH brought together a group of French doctors with a vision to bring world-class healthcare to Vietnam and address the shortage of quality medical care and clinical talent in one of Southeast Asia’s fastest-growing economies and most underserved healthcare markets.

As the first hospital in South and Central Vietnam to achieve the prestigious US JCI (Joint Commission International) accreditation, FVH sets the gold standard in healthcare. The hospital blends international and local medical expertise to deliver unparalleled clinical care with compassion.

Located in Ho Chi Minh City, FVH provides a clinically perfected, standardised approach to treatment protocols through its Centres of Excellence in areas such as oncology, cardiology and gastroenterology, significantly improving access to specialised care.

Quadria’s Impact 

Since Quadria’s investment in 2017, FVH has significantly expanded its reach, developed new specialties, and attracted top talent, more than doubling its revenue. Today, FV Group boasts over 1,600 full-time staff, including 200 doctors, with an extensive clinical offering across 36 medical specialties.

In particular, Quadria played a crucial role in developing FVH’s Centres of Excellence such as Oncology, Cardiology, Gastroenterology and Ophthalmology. The hospital’s Hy Vong Cancer Centre has treated over 35,000 patients since 2018, thanks to advanced resources and a partnership enabled by Quadria with India’s largest oncology provider, Healthcare Global Enterprises (HCG).

Quadria also facilitated a partnership with AIG, Asia’s leading referral centre for gastric sciences, enhancing research, training, and remote consultations for FVH’s gastroenterology centre. Additionally, Quadria supported FVH’s acquisition of ACC Chiropractic Clinic in 2022, broadening its service offerings.

With Quadria’s active involvement, FVH has improved access to healthcare for patients, increasing both the number of beds and the number of doctors and nurses by roughly 30%. Patient volume increased by over 15% during Quadria’s investment, with the hospital serving almost 270,000 patients in 2022. FVH also played a crucial role in local communities during the COVID-19 crisis, conducting over 75,000 PCR tests and administering more than 95,000 COVID-19 vaccines.

Quadria’s sale of its stake in FVH to Thomson Medical Group marked Vietnam’s largest healthcare transaction to-date and the largest healthcare acquisition in Southeast Asia since 2020. The firm’s strategic approach transformed FVH into Vietnam’s leading tertiary care provider, enhancing patient access and raising service standards.

[1] https://quadriacapital.com/wp-content/uploads/2024/09/Quadria-Report_2022_Investing-for-Impact-1.pdfhttps://quadriacapital.com/wp-content/uploads/2023/09/Quadria-Report_2022_Investing-for-Impact.pdf

[2] https://www.trade.gov/country-commercial-guides/vietnam-healthcare

[3] https://quadriacapital.com/approach/investment-strategy/

[4] https://english.thesaigontimes.vn/vietnam-aims-for-15-physicians-per-10000-people-by-2025/