KKR scoops up a majority stake in Medical Saigon Group

On January 19, a memo was sent to Medical Saigon Group’s staff by Le Huy Duc, CEO of Medical Saigon Group. However, the memo didn't disclose the financial details of the deal.

According to the memo seen by Reuters, KKR will take over as Medical Saigon Group's largest shareholder from Singapore's investment firm Heliconia Capital, a wholly owned unit of Singapore's state investment firm Temasek Holdings. Heliconia acquired Medical Saigon Group in 2019.

"KKR will step into the shoes of Heliconia to become our largest shareholder. Heliconia will transition out of MSG after a very successful partnership together," Duc said.

"With KKR’s investment and partnership, we will be able to accelerate our growth to reach more patients, deliver better patient outcomes, and expand our footprint across Vietnam. The board hopes to be able to accelerate our growth to reach more patients, deliver better patient outcomes, and expand our footprint across Vietnam with KKR's investment."

Medical Saigon Group was founded in 2004 by ophthalmologist Dr. Thai Thanh Nam. It started with a facility on Le Thi Rieng street, touted as Vietnam's first non-public eye hospital to employ advanced techniques and offer international standard medical quality at that time.

The Saigon Eye brand has since expanded to various locations, including Hanoi, Nha Trang, Ha Tinh, Can Tho, and Vinh. Today, Medical Saigon Group is one of the largest hospital chains in Vietnam.

Meanwhile, KKR manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, credit, and through its strategic partners, hedge funds. It is currently one of the world’s largest private investment funds. From 2011 onwards, the fund has invested over $1 billion in prominent Vietnamese companies, including major transactions with Masan and Vingroup.

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KKR in talks to purchase Saigon Medical Group US global investment firm Kohlberg Kravis Roberts & Co.(KKR) is currently in discussion with Singaporean investment fund Heliconia Capital regarding the acquistion of the Medical Saigon Group (MSG).

Investment funds hold firm in Vinhomes amid market shifts Several investment funds, including heavyweights like the Government of Singapore Investment Corporation (GIC) and KKR, are maintaining their substantial holdings in Vinhomes.