3 February 2021, Singapore – ABC World Asia, the Singapore-based private equity fund focused on impact investing across Asia, today announced that it has led a US$24M Series B round in Kim Dental – one of Vietnam’s leading dental system operators, alongside existing backer Aura Private Equity, among others. The new capital will further support Kim Dental with expanding the delivery of affordable and reliable oral healthcare services across Vietnam.
Headquartered in Ho Chi Minh City, Vietnam, Kim Dental currently owns and operates a fast-growing network of 19 dental clinics across four cities in Vietnam. The clinics provide routine dental check-ups and treatments as well as more advanced procedures such as orthodontics, prosthodontics, oral surgery and implants. The dental system operator employs 120 dentists and dental surgeons, as well as over 600 clinical and operational staff serving over 23,000 patients every month.
David Heng, Founder and CEO of ABC World Asia, said that oral health is often neglected despite being an important component of primary healthcare, and that Kim Dental is helping to deliver affordable and quality oral healthcare to communities across Vietnam through stronger professional standards, training and customer service.
Aura Private Equity said it was proud to follow on in the landmark Series B round led by ABC World Asia and noted both the strong community outcomes and the significant market opportunity in Vietnam for reasonably priced healthcare services.
Dr Nguyen Huu Nam, Chairman of Kim Dental, said growing awareness of oral healthcare in Vietnam is increasing demand for more affordable dental care services of international standards and that the company aims to continue building a robust national dental ecosystem.
Adding to the growth momentum, Kim Dental has partnered with Vinmec Central Park International Hospital, part of the Vinmec Healthcare System. Under this partnership, Kim Dental manages the in-house dental facilities at Vinmec Central Park International Hospital.
In an ABC World Asia commissioned survey, over 300 dental patients were interviewed to assess the impact of Kim Dental on their oral health. Nearly half were experiencing quality oral healthcare treatments for the first time, more than 75% felt more informed about oral health after treatment, and about 78% reported changing their oral hygiene behaviours after learning how to improve oral health from Kim Dental.
The World Health Organisation estimates that oral diseases affect around 3.5 billion people globally. In low-middle income and emerging markets, the incidence of oral diseases is expected to rise as more people are exposed to sugar, tobacco and alcohol – major risk factors for oral diseases.
About ABC World Asia
ABC World Asia is a Singapore-headquartered and Asia-focused private equity fund dedicated to impact investing. We invest in companies that drive positive change by addressing the world’s most pressing challenges such as climate change, resource scarcity, and deepening inequality.
Our investment themes include financial and digital inclusion, better health and education, climate and water solutions, sustainable food and agriculture, and smart and liveable cities.
Our investment strategy is aligned with the ABC Framework for an Active Economy, a Beautiful Society, and a Clean Earth.