Livingstone Health to develop hospital in Vietnam through partnership
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LIVINGSTONE Health Holding PRH has tied up with the National Phytopharma Joint Stock Company and Truth Assets Management (S)(TAM) to evaluate healthcare project opportunities in Vietnam.
The move will see the multidisciplinary specialist healthcare group develop a Livingstone-branded hospital on Phytopharma's land parcels in Hanoi and Ho Chi Minh City, it said in a press statement on Tuesday (Mar 8).
Livingstone will provide project ideation, design and strategy, as well as advice on operations and preparation. Meanwhile, TAM will assess the potential healthcare project investment, development and expansion of Singapore-based healthcare services and opportunities in Vietnam.
Phytopharma is a Vietnam pharmaceutical company that provides an integrated range of healthcare services. It has a network that includes GSK and AstraZeneca as some of its key strategic partners.
Livingstone chief executive Wilson Tay said: "We intend to leverage Singapore's strong background in medical tourism and the group's expertise to expand into Vietnam, and hope to build upon our success to expand our footprint into Tier 2 and 3 cities within the country."
The group does not expect the partnership to have any material impact on its net tangible assets per share or earnings per share for the financial year ending Mar 31, 2022.
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Shares of Livingstone Health closed 6 per cent or S$0.008 higher at S$0.142 on Monday.
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