Business

TNH Hospital Group eyes major foreign investment to fuel ambitious expansion

By Dung Pham September 04, 2024 | 02:50 PM GMT+7

Foreign capital is anticipated to aid TNH Hospital Group Joint Stock Company (TNH) in realizing its ambitious expansion plans.

TNH has recently received approval from the State Securities Commission to increase its foreign ownership limit from 49 per cent to 70 per cent.

This development follows significant purchases of TNH shares by foreign shareholders this year, who now collectively hold 32 per cent of the company's equity.

Current data shows TNH's major foreign investors include KWE Beteiligungen AG with a 10.51 per cent stake; Access S.A., SICAV-SIF - Asia Top Picks with 6.92 per cent; and Blooming Earth Pte. Ltd. (Singapore) with 5.2 per cent.

At the 2024 general meeting of shareholders, TNH's management highlighted that expanding the foreign ownership limit would enhance the liquidity of TNH's shares and facilitate the company's capital-raising efforts, particularly from foreign sources.

The increase in foreign ownership is expected to support TNH's ambitious expansion plans, which include developing a network of 10 general and specialized hospitals, along with long-term preventive healthcare projects.

This year, TNH plans to introduce preventive healthcare services, such as vaccinations, to its portfolio.

According to Le Xuan Tan, TNH's General Director, the demand for vaccines outside the current expanded immunization program has surged since the Covid-19 pandemic.

The demand for vaccinations at hospitals is substantial, particularly in Viet Yen facility in Bac Giang province, where there is a large workforce in industrial zones.

He said setting up a vaccination department within the hospital is less challenging than establishing a separate vaccination center.

TNH Chairman Mr. Hoang Tuyen envisions a network of 10 hospitals by 2030, including both general and specialized facilities, covering areas such as oncology, obstetrics, ophthalmology, and stroke.

Currently, TNH operates two medical facilities: including Thai Nguyen International Hospital and Yen Binh General Hospital in Thai Nguyen province.

TNH Viet Yen in Bac Giang province is awaiting approval from the Ministry of Health.

Additionally, TNH is investing in a 10-story hospital project in Lang Son province, featuring 300 beds, designed as a general hospital. Last year, the hospital also contributed capital to establish TNH Hanoi Hospital Joint Stock Company for an investment project in Ciputra Hanoi urban area, with around 500 beds.

Furthermore, the company is moving forward with a specialized oncology general hospital project in Danang City under thepublic-private partnership model.

In the first half of the year, TNH reported revenue of VND222 billion and net profit of VND54 billion, achieving 41 per cent and 35 per cent of its annual targets, respectively.

Leading with empathy in Vietnam’s billion-dollar investment flows

Leading with empathy in Vietnam’s billion-dollar investment flows

Business -  3 week

For Koen Soenens, Sales and Marketing Director at DEEP C, empathy is a compass that guides major deals, the way a leader builds a team, and the ambition to create a sustainable industrial zone that carries a Vietnamese identity.

Taseco Land’s new logo marks a new growth trajectory

Taseco Land’s new logo marks a new growth trajectory

Business -  3 week

Taseco Land has shifted its listing to HOSE and introduced a new upward-pointing arrow logo - a visual statement of its strategy to raise capital, expand its land bank, and strengthen its standing in Vietnam’s real estate sector

SAP positions Vietnam as key R&D hub with €150 million investment

SAP positions Vietnam as key R&D hub with €150 million investment

Business -  1 month

Located in the heart of Ho Chi Minh City, SAP Labs Vietnam is the second SAP Labs Network hub in Southeast Asia, following Singapore and is one of 20 countries that have SAP Labs globally.

Solar & Storage Live Vietnam returns, leading sustainability and innovation in energy sector

Solar & Storage Live Vietnam returns, leading sustainability and innovation in energy sector

Business -  2 month

Solar & Storage Live Vietnam event has been running since 2017 and the 2025 edition will be the biggest yet.

New alliance pushes ESG standards for Vietnamese businesses

New alliance pushes ESG standards for Vietnamese businesses

Business -  3 month

A new partnership between EY and the Vietnam-Singapore Board Forum (VSBF) is set to strengthen ESG capabilities for Vietnamese businesses, helping shape more sustainable business models.

US giant backs Vietnam’s bid to lead ASEAN gas trade

US giant backs Vietnam’s bid to lead ASEAN gas trade

Business -  3 month

With strategic deals and strong policy alignment from the Vietnamese government, Excelerate Energy aims to anchor Vietnam’s LNG ambitions in the region.