Thailand-headquartered Thonburi Healthcare Group (THG) forged a strategic alliance on June 9 with Vietnam-based property developer IFF Holdings and Mithmitree Clinic to embark on the construction of a state-of-the-art wellness clinic in Vietnam.

The estimated investment for this facility amounts to a staggering 170 million baht, or $4.9 million, according to the Bangkok Post.

Targeting the discerning cohort of affluent clientele with a keen interest in healthcare and anti-aging medicine, this collaborative initiative aims to tap into Vietnam’s surging economy and capitalise on its propitious healthcare prospects.

The financial arrangement entails IFF Holdings shouldering 60 per cent of the total investment, while THG commits 30 per cent and Mithmitree Clinic provides 10 per cent of the funding.

THG’s principal business operations cover hospital operations, hospital management, healthcare solution provider, development and sales of hospital operation software, and property development.

The BeWell Wellness Clinic is projected to commence operations in Ho Chi Minh City before the end of the year. Further expansion plans encompass the establishment of additional branches in Danang and Ho Tram by 2025, solidifying THG’s position as a major player in Vietnam’s healthcare landscape.

Tanatip Suppradit, CEO of THG, outlined the profound purchasing power wielded by Vietnamese customers who express a strong desire for medical services delivered by Thai doctors. This venture aligns with THG’s business strategy and represents a significant opportunity to tap into Vietnam’s growing wellness trend.

The investment is part of THG’s broader commitment to Vietnam, as THG and Thonburi Bamrungmuang Hospital have already partnered to provide consultancy services to FV Hospital in Ho Chi Minh City, covering various aspects such as construction, interior design, management systems, procurement, recruitment, and the establishment of an in vitro fertilisation clinic.

IFF Holdings chairwoman, Ngyen Thi Mai, highlighted the company’s decision to invest in the clinic due to the evident surge in the wellness industry across Vietnam and ASEAN following the pandemic, as economies gradually recover.

She expressed confidence in THG’s expertise in delivering world-class medical services and Mithmitree Clinic’s specialised medical knowledge.

The establishment of the clinic bears significant implications for Vietnam’s medical service quality enhancement and represents an important step towards imparting extensive wellness knowledge to the local population, thereby ensuring better health outcomes for all.

Given the intrinsic appeal of holistic healthcare and anti-aging medicine to Vietnam’s wealthy customers, this bustling market holds immense potential for the wellness industry to flourish and thrive, as underscored by Worasak Manit, CEO of Mithmitree Clinic Co.

Vietnam Investment Review