TrueDoc and AiHealth merger secures funding from TNB Aura Scout

This joint venture is poised to take significant strides in the Vietnamese healthtech sector, bolstered by investment from venture capital fund TNB Aura Scout.

Unprecedented deal

Amid a dynamic landscape of mergers and acquisitions within Vietnam's healthcare industry, TrueDoc has successfully executed two consecutive merger and fundraising deals. This unprecedented brace of deals sets a new benchmark in the healthtech sector.

TrueDoc is creating and sustaining its momentum within the healthcare field

Since its inception, TrueDoc has consistently been on the lookout for opportunities to enhance its service offerings and elevate the quality of healthcare.

The integration of AiHealth, with its advanced technological capabilities and experienced development team, aligns perfectly with TrueDoc's vision, enabling the enhancement of its service platform and the overall customer experience.

Following the merger, TrueDoc has secured pre-seed funding from TNB Aura, a Singapore-based venture capital firm, as part of their Scout Initiative, which focuses on early-stage investment opportunities in the region.

This funding will be directed towards optimising TrueDoc's technology platform, expanding service offerings, and broadening its operational network to increase user engagement.

Reflecting on this milestone, Le Ngoc Hai, CEO of TrueDoc, stated, “We extend our gratitude to our partners who share our vision for enhancing healthcare for the Vietnamese population. This partnership equips TrueDoc with the capabilities and resources necessary to construct a comprehensive healthcare ecosystem that prioritises quality. We remain committed to our principles of convenience and quality, continually innovating to establish a trustworthy healthcare destination for our users.”

Le Ngoc Hai, CEO of TrueDoc

Expectation for a healthtech unicorn

The healthtech sector has consistently attracted investment, even amid the ongoing ‘funding winter’ in Vietnam. This trend underscores the sector's immense potential. However, Vietnam is still a largely untapped market, with a unicorn yet to emerge in the sector.

In this context, TrueDoc's partnership with TNB Aura Scout is noteworthy and is expected to position the company as a leading player within the healthtech landscape.

Joe Zhang from TNB Aura remarked, “We recognise the potential in Vietnam's digital healthcare ecosystem, which remains largely underserved. Although several companies have attempted to accelerate its development with various business models, there is still a pressing need for players like TrueDoc to strengthen the TeleHealth infrastructure in Vietnam. Given the team's experience and expertise, we are confident that they can establish strong business fundamentals, and with our research-driven approach, we can help unlock even greater potential.”

Over the past five years, TrueDoc has refined its one-stop healthcare ecosystem model, delivering a comprehensive suite of services that encompass remote consultations, home-based healthcare, corporate health screenings, and international patient transfers.

Each service is enhanced by the seamless integration of online and offline methodologies, fostering a user-friendly experience and promoting the adoption of technology in medical consultations and treatments.

To support this vision, TrueDoc has established a wide distribution healthcare network comprising 1,000 highly skilled doctors and over 300 reputable hospitals and clinics, both domestically and internationally.

As a result, TrueDoc has successfully engaged hundreds of thousands of users, achieving a stable annual growth rate and earning the trust of numerous businesses that rely on its healthcare services for their customers and employees.

TNB Aura Scout is an initiative of TNB Aura, which is considered a dedicated investment vehicle aimed at tapping into pre-seed and seed opportunities, particularly in Vietnam and the Philippines.

This initiative allows TNB Aura to engage with emerging companies at an earlier stage than its typical Series A investments, facilitating the growth of transformative businesses in the region.

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