The healthcare sector in Vietnam has been a “golden land” for domestic and foreign investors. (Photo: med247.vn)
Hanoi (VNA) – The first half of this year
saw flows of foreign investment from the Republic of Korea (RoK) and Singapore,
among others, in domestic .
In early 2022, Vietnamese medical device manufacturer
has secured a 30 million USD investment from private equity firm
from the Republic of Korea (RoK).
This is a crucial turning point in USM Healthcare’s
international integration, helping to expand and strengthen the company’s
research and production capabilities to meet domestic and foreign market, USM
Healthcare said.
In February 2022, Quadria Capital, Asia’s leading
healthcare investment firm, announced the completion of its 90-million USD investment
in Con Cung, a Vietnamese retail chain for maternity and baby-care products.
The fund will be used to support Con Cung’s ambition
to launch 2,000 local stores by 2025, expand its product portfolio, as well as
develop an all-in-one super app that provides personalised products and
services for over five million Vietnamese mothers.
One month later, healthcare startup Jio Health announced
that it has completed a 20 million USD Series B investment led by
Singapore-based healthcare investor, Heritas Capital. Other investors in the
round include Fuchsia Ventures, Kasikorn Bank Group, and existing investor,
Monk’s Hills Ventures.
This funding represents the largest in the company’s
history and will build on Jio Health’s aggressive growth, with plans to expand
its smart clinics and omni-channel ecosystem across its primary market of
Vietnam and pave the way for expansion into regional markets over the coming
years.
POC Pharma, a B2B service SaaS, also raised a 10.3-million
USD Series A funding round led by Alven, along with co-investment from seed
investors Picus Capital, FEBE Ventures, and FJ Labs who have doubled down their
investments.
The funds will be used to accelerate the roll-out of
its digital go-to-market solutions for the pharmaceutical industry in emerging
countries, in Southeast Asia, South Asia, the Middle East, and Africa.
Such contracts reflect that the sector
is drawing due attention of both domestic and foreign investors.
According to Fitch Solutions, healthcare spending in
Vietnam is expected to reach 23 billion USD by 2022, while BMI Research’s
report also shows that the pharmaceutical industry can reach 16.1 billion USD
in size by 2026.
However, the number of startups in this field makes
up only 2 percent out of more than 4,000 in Asia, which shows substantial
opportunities and potential in the market.
Vu Thanh Long, CEO of eDoctor, pointed out
challenges to health care startups, noting that it is very hard to lure
investments in this sphere, and it takes time for the startups to earn profits.
Other entrepreneurs shared the view that challenges
lie with professional knowledge, market and competition, which, on the other
hand, created momentum for businesses to grow further./.
Source: VietnamPlus
