Healthcare private equity firm TVM Capital Healthcare has announced its investment in Alina Vision, an Australian-linked eyecare business which currently operates two hospitals in Vietnam.
The social enterprise was established by The Fred Hollows Foundation in 2018 to address the growing demand for cataract surgeries in Vietnam. With a network of eye surgery centres across the country, Alina is said to bring an affordable model of eyecare that is sustainable and equitable.
In 2023, Alina completed more than 2,800 cataract surgeries and wants to grow its network to a chain of hospitals across Vietnam with significantly increased capacity.
Until recently, Vision Eye Institute (VEI) CEO Ms Amanda Cranage was a director and board chair of Alina Vision. In this role, she expanded services in the north of Vietnam, including setting up the ophthalmology department in one of Hanoi’s main hospitals.
Over the past five years, Fred Hollows and Rohto Pharmaceutical, an eyecare company in Japan, have provided financial backing, eye surgery training and clinical support to Alina Vision to grow the organisation from inception to more than 80 employees across two eye hospitals.
The investment of industry specialist growth capital investor TVM Capital Healthcare is expected to provide Alina access to operational, clinical, training, and management resources, in addition to the equity investment, and accelerate the growth plans while elevating quality of care.
“This deal marks the most substantial investment by TVM Capital Healthcare in the region to date. We look forward to working closely with the management team of Alina Vision to execute our mutually agreed expansion plans,” Ms Hoda Abou-Jamra, managing director of TVM Capital Healthcare in Southeast Asia, said.
“This investment is testament to our impact investment strategy, which is to design, build, and scale promising healthcare solutions that address patients’ needs and fill market gaps, ultimately contributing to equal access to quality healthcare.”
Fred Hollows CEO Mr Ian Wishart said the TVM investment aligned with the not-for-profit’s growth plans.
“We are very pleased to have TVM Capital Healthcare on board to support us and the Alina management team in scaling the business to help reduce avoidable blindness in Vietnam and the region,” he said.
“Alina Vision already invests significant resources in recruiting and training ophthalmologists, optometrists and nurses with our and Rohto’s help. We can now enhance our efforts and execute on our growth plans.”