31 May 2019 | News
Qualitas eyes Vietnam as the next new market opportunity within Southeast Asia
image credit- zaga.com.au
Homegrown and leading primary healthcare provider, Qualitas Medical Group (founded in 1997 in Malaysia) to expand its global network of clinics with additional 200 clinics, bringing to a total of approximately 500 clinics by 2022. Over the next 3 years, Qualitas will be predominantly focusing on the Southeast Asia markets for its new growth and market penetration strategy.
The Group's next foray into Southeast Asia will be the Vietnam market, kicking off the first phase of Qualitas' expansion plans with the aim of providing quality and comprehensive primary healthcare services globally. Qualitas is currently in the process of finalising an acquisition of a reputable medical centre at Ho Chi Minh City.
Over the years, Vietnam has recorded steady economic growth, leading to a growing demand for healthcare services in the country. In 2017, the healthcare expenditure accounted for 7.5% of the GDP, and is predicted to thrive at a compound annual growth rate of 12.5% between 2017 -- 2021.
Dato' Dr. Noorul Ameen Bin Mohamed Ishack, Founder, Managing Director and Chairman of Qualitas Medical Group said, “With over 20 years of experience in the primary healthcare industry, we remain focused in offering high quality outpatient care services within Malaysia, Singapore, Australia and beyond. When assessing new potential markets, we take into consideration countries with an emerging middle-class population and rising healthcare expenditure such as Vietnam, specifically in cities like Ho Chi Minh City, Hanoi and Da Nang. We target to own several medical centres at the general and expatriate population in Vietnam over the next 5 years.”
Aside from Vietnam, the Group is exploring other new markets within the region such as Myanmar, Indonesia and Bangladesh.
In the Southeast Asia region, there is a long-standing challenge of more demand than supply of healthcare facilities. As such, Qualitas is growing its network of healthcare facilities in the Southeast Asia in addition to its existing presence in Malaysia, Australia and Singapore, with a network of a total of 276 GP clinics, 1 ambulatory care centre, 13 dental clinics and 11 medical imaging centres.
“Leveraging on our economies of scale as well as our expertise in the management and operations of GP clinics, we are able to bring our expertise and intellectual property into other new markets in a cost-effective manner and by fine tuning our business model and delivery format to suit the local context. We are also looking at a vertical growth of our range of healthcare services and solutions, expanding further from outpatient clinics to integrated primary care facilities," continued Dato' Dr. Noorul Ameen Bin Mohamed Ishack.
Malaysia remains as Qualitas' largest primary healthcare network amongst all other markets, in line with the vision to boost primary healthcare amongst Malaysians in the 21st century.