Singapore-based private equity fund ABC World Asia has led a US$24 million Series B funding round at Kim Dental, one of Vietnam’s leading dental system operators. Current investor Aura Private Equity also participated in the latest financing.
The new capital will further support Kim Dental in expanding the delivery of affordable and reliable oral healthcare services across the Southeast Asian country.
Headquartered in Ho Chi Minh City, Kim Dental 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 company employs 120 dentists and dental surgeons, as well as over 600 clinical and operational staff serving over 23,000 patients every month. It also runs a dental laboratory that supports its clinic network with in-house production of dental crowns, dentures and bridges.
Kim Dental has partnered with Vinmec Central Park International Hospital, part of the Vinmec Healthcare System. Backed by Vietnam’s leading private conglomerate Vingroup Corporation, Vinmec Healthcare System is one of the country’s leading healthcare groups and also operates the first general hospital in Vietnam to be accredited by Joint Commission International (JCI), the world’s leading accreditation of hospital management and patient safety. Under the partnership, Kim Dental manages the in-house dental facilities at Vinmec Central Park International Hospital.
Impact investing
ABC World Asia focuses on impact investing in Asia, particularly in “companies that drive positive change by addressing the world’s most pressing challenges such as climate change, resource scarcity, and deepening inequality”, according to a company statement.
Its investment themes include financial and digital inclusion, better health and education, climate and water solutions, sustainable food and agriculture, and smart and liveable cities.
Its inaugural S$405 million (US$304 million) fund includes investors such as Temasek Trust, Temasek, Pavilion Capital, Mapletree Investments, Seatown Holdings, Sembcorp Industries, and Singapore Power.
David Heng, founder and chief executive officer of ABC World Asia, comments: “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 professionalizing 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.”
Kim Dental was advised on the transaction by BDA Partners.
