BDA quoted in DealStreetAsia on Vietnam health sector 

BDA Partners’ Ho Chi Minh City team spoke with DealStreetAsia about healthcare investing in Vietnam. The interview examines why venture-backed healthtech platforms have struggled post-pandemic and why private equity interest in traditional healthcare assets remains strong.

Key perspectives from BDA Partners:

• “The shift is towards hybrid models where digital serves as an access point but must be integrated with physical infrastructure to deliver sustainable value. Pure-play telemedicine has not found a strong product market fit in Vietnam’s context,” said Huong Trinh, Partner and Head of Ho Chi Minh City at BDA Partners
• “In contrast to venture-backed startups, PE investors are targeting operators with real assets and recurring revenue. They see value in consolidation and operational improvement plays rather than in subsidising user acquisition for unproven digital models,” Trinh explained
• “These ambiguities create a regulatory risk premium. As such, investors might apply a discount on valuations to account for compliance uncertainty,” added Trinh
• “Financial sustainability has become a central investment criterion. Investors look for startups with a clear path to profitability and proven unit economics at their current scale,” said Yen Pham, Vice President of BDA Vietnam
• “The unifying theme across these opportunities is the appeal of healthcare models that combine a physical footprint, insurance reimbursement, and solid unit economics. In contrast, pure-play digital health ventures are expected to remain niche in the near term, pending greater regulatory clarity and more mature payment infrastructure,” Trinh concluded

Read the full article on DealStreetAsia here.

About BDA

BDA Partners is the global investment banking advisor. We are a premium provider of Asia-related advice to sophisticated clients globally, with 30 years’ experience advising on cross-border M&A, capital raising, and financial restructuring. We provide global reach with our teams in New York and London, and true regional depth through our seven Asian offices in Mumbai, Singapore, Ho Chi Minh City, Hong Kong, Shanghai, Seoul and Tokyo. BDA has deep expertise in the Chemicals, Consumer & Retail, Health, Industrials, Services, Sustainability and Technology sectors. We work relentlessly to earn our clients’ trust by delivering insightful advice and outstanding outcomes. BDA Partners has strategic partnerships with William Blair, a premier global investment banking business, and with DBJ (Development Bank of Japan), a Japanese government-owned bank with US$150bn of assets.

US securities transactions are performed by BDA Partners’ affiliate, BDA Advisors Inc, a broker-dealer registered with the Securities and Exchange Commission (SEC). BDA Advisors Inc. is a member of the Financial Industry Regulatory Authority (FINRA) and SIPC. In the UK, BDA Partners is authorized and regulated by the Financial Conduct Authority (FCA). In Hong Kong, BDA Partners (HK) Ltd is licensed and regulated by the Securities & Futures Commission (SFC) to conduct Type 1 and Type 4 regulated activities to professional investors. www.bdapartners.com