In a groundbreaking move set to transform the Vietnamese healthtech landscape, TrueDoc has announced a significant merger with AiHealth, freshly backed by an investment from TNB Aura Scout, a venture capital firm based in Singapore. This collaboration marks a pivotal moment in the rapidly evolving field of healthcare technology in Vietnam, bringing together advanced technological capabilities with a vision for enhanced healthcare services.
Unprecedented Deal
Amid the ongoing wave of mergers and acquisitions in Vietnam’s healthcare sector, TrueDoc has achieved a remarkable feat by executing two successive merger and fundraising agreements. This dual accomplishment not only establishes a new benchmark for healthtech in the region but also signals the increasing momentum within the industry.
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| TrueDoc is creating and sustaining its momentum within the healthcare field |
Since its inception, TrueDoc has maintained a laser focus on opportunities to enhance its service offerings and elevate the general quality of healthcare. The strategic integration of AiHealth comes at a crucial time, introducing advanced technological resources and a skilled team that resonate deeply with TrueDoc’s overarching mission. This merger enhances the company’s service platform while simultaneously enriching the user experience.
Following this pivotal merger, TrueDoc secured pre-seed funding from TNB Aura. This infusion of capital comes as part of the firm’s Scout Initiative, specifically designed to target early-stage investment prospects in emerging markets across Southeast Asia. The goal is clear: to optimize TrueDoc’s technology platform, expand service capabilities, and enhance user engagement through a broader operational network.
Industry analysts and insiders anticipate that this partnership with TNB Aura Scout will usher in significant advancements within the Vietnamese healthtech sector as early as the latter half of 2024. Reflecting on this milestone, Le Ngoc Hai, the CEO of TrueDoc, expressed gratitude towards partners who share the vision of improving healthcare accessibility for the Vietnamese populace. He remarked, “This partnership equips TrueDoc with the capabilities and resources necessary to construct a comprehensive healthcare ecosystem that prioritises quality.”
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| Le Ngoc Hai, CEO of TrueDoc |
Expectation for a Healthtech Unicorn
The healthtech sector in Vietnam has seen continued investment interest, despite the current ‘funding winter’ affecting multiple industries. This steadfast trend highlights the sector’s substantial potential, although it remains a largely untapped market without a unicorn at this point. TrueDoc’s collaboration with TNB Aura Scout aims to place the company at the forefront of this burgeoning ecosystem, potentially setting the stage for its emergence as a significant player.
Joe Zhang, representing TNB Aura, noted the unmatched opportunity in Vietnam’s digital healthcare ecosystem, which he describes as underdeveloped. He acknowledged the attempts of various companies to accelerate its growth through diverse business models but emphasized the critical need for more robust players like TrueDoc to strengthen the TeleHealth infrastructure. “With our research-driven approach, we can help unlock even greater potential,” Zhang remarked.
Over the past five years, TrueDoc has meticulously refined its one-stop healthcare ecosystem, presenting a comprehensive array of services that include remote consultations, home-based healthcare options, corporate health screenings, and international patient transfers. These services are seamlessly integrated, showcasing a mastery of both online and offline engagement strategies that prioritize user-friendliness and encourage technological adoption in medical consultations.
To support its ambitious vision, TrueDoc has cultivated a vast healthcare network that features 1,000 well-qualified doctors along with over 300 reputable hospitals and clinics, both on a domestic and international scale. This strategic positioning has enabled TrueDoc to engage hundreds of thousands of users, ensuring a stable annual growth rate and garnering the trust of numerous corporate clients who rely on its healthcare services for their own employee welfare.
TNB Aura Scout represents a new investment initiative from TNB Aura, designed to capitalize on pre-seed and seed-stage opportunities primarily in Vietnam and the Philippines. This approach allows the firm to engage meaningfully with emerging companies much earlier than its traditional Series A investments, nurturing the growth of transformative businesses within the region.