Ares Management’s Asia private equity arm has entered Vietnam’s healthcare market through an investment in Medlatec Group. While financial terms of the deal were not disclosed, Medlatec called Ares a “strategic investor” in a statement.
The Vietnamese company said that by leveraging the $572-billion investment firm’s global network, it aims to accelerate digital transformation and strengthen its competitiveness in the local market.
The company currently operates one hospital, nine clinics, along with labs, diagnostic imaging centres, home sampling services, and the MyMedlatec digital platform. According to latest regulatory filings, the Hanoi-headquartered business’ charter capital stands at almost $50 million.
The new capital will support the development of AI-driven solutions for diagnosis and treatment, as well as the expansion of its hospital and laboratory network across Vietnam.
Last year, DealStreetAsia reported that Medlatec was looking to raise capital in the lower $100-million range. By then, Ares and Quadria were understood to evaluate the opportunity. In August 2025, Mergermarket reported that Ares picked a 30% stake in Medlatec for $150 million.
The transaction marks Ares’s foray into Vietnam’s healthcare space, though the firm is already active in the country with investments in several resorts; and children’s lifestyle platform NKid, a portfolio it inherited from Crescent Point Capital.
Despite a challenging investment environment, healthcare remains an attractive sector for major private equity players. Quadria Capital recently acquired Tam Tri Medical, following its earlier deal with Con Cung and past investment in FV Hospital.
Nhi Dong 315 has raised nearly $200 million from investors including GIC, while Mekong Capital also made its first hospital investment in TNH Hospital earlier this year.
Notably, big-ticket deals are diversifying beyond hospital assets towards a more consumer-driven healthcare model.
Creador-backed Long Chau, for instance, has explicitly stated its ambition to transform from pharmacy retail to a full-fledged healthcare services platform, with technology at the core of that strategy.
Similarly, Gene Solutions, which welcomed August Global Partners as its latest private equity shareholder, also has a big bet on AI.
As Vietnam pushes a national agenda for AI development, the healthcare sector has actively applied AI not only in analysing medical data for diagnosis and treatment, but also in more advanced fields such as imaging, radiotherapy, and surgery.
