ABC World Asia, the Singapore-based private equity fund focused on impact investing across Asia, today announced that it has led a $24 million Series B round in Kim Dental – one of Vietnam’s leading dental system operators – alongside existing backer Aura Private Equity and others. The new capital will further support Kim Dental with expanding the delivery of affordable and reliable oral healthcare services across Vietnam.
|ABC World Asia leads $24 million Series B round in Kim Dental |
Headquartered in Ho Chi Minh City, Vietnam, Kim Dental currently owns and operates a fast-growing network of 19 dental clinics across four cities in Vietnam. The clinics provide routine dental check-ups and treatments as well as more advanced procedures such as orthodontics, prosthodontics, oral surgery, and implants. The dental system operator employs 120 dentists and dental surgeons, as well as over 600 clinical and operational staff serving over 23,000 patients every month. Kim Dental also operates a dental laboratory that supports its clinic network with in-house production of dental crowns, dentures, and bridges.
David Heng, founder and CEO of ABC World Asia, said, “The improvement of health outcomes is a key impact focus for us. Oral health, despite being an important component of primary healthcare, is often neglected and continues to pose a major public health concern in many developing countries. Kim Dental is leading the way in delivering affordable and quality oral healthcare to communities across Vietnam. With its comprehensive approach towards professionalising dental operations, improving clinical training, and elevating customer service quality, Kim Dental is driving positive oral health outcomes anchored on affordability, quality, awareness, and prevention. We look forward to supporting Kim Dental in its mission as it continues to contribute to universal health coverage and improve the prevention and control of non-communicable diseases in Vietnam through better oral health.”
Nguyen Huu Nam, chairman of Kim Dental, said, “As Vietnam continues to develop and its economy continues to expand, many segments of our communities are becoming increasingly aware of the importance of oral healthcare and demanding more affordable dental care services of international standards. We look forward to continue building a robust dental ecosystem in Vietnam with the additional resources provided from this successful fundraising round. It is our dream to provide dentists with high-quality jobs and to offer international-standard dental services to patients across the country.”
Dr Nam is one of the three founders of Kim Dental – the other two founders are CEO Su Duy Bin and CFO Huynh Minh Viet. Together, they lead an experienced management team with deep local operational knowledge and clinical expertise.
In an ABC World Asia-commissioned survey, over 300 dental patients were interviewed to assess the impact of Kim Dental on their oral health. Of those surveyed, nearly half are experiencing quality oral healthcare treatments for the first time – attesting to the mission of Kim Dental to deliver oral healthcare to the underserved segments in Vietnam. Over 75 per cent noted that they felt more informed about oral health after the treatments and about 78 per cent attested to changing their oral hygiene behaviours after learning more about how to improve their oral health from Kim Dental.
The National Oral Health Survey conducted in Vietnam found that one-third of Vietnamese adults suffer from periodontal pockets as a result of gum disease that was left untreated. Other negatives outcomes from poor oral healthcare also include malnutrition, reduced quality of life, and oral cancer.