SINGAPORE (Jan 10): RHB is maintaining its “buy” call on Singapore Medical Group (SMG) with a target price of 63 cents following the recent news of the group’s expansion into Vietnams’ private healthcare market.

To recap, SMG via its 50%-owned joint venture (JV) entity, SMGIV, recently acquired a US$1.6 million investment stake in Singapore-based investment company CityClinic Asia Investment (CCAI).

CCAI holds a 100% foreign investor license for Vietnamese healthcare operations, and will therefore allow SMG access to  Careplus Clinic Vietnam – a 15,000 sq foot clinic fully owned by CityClinic Vietnam Limited (CCVN), a wholly-owned subsidiary of CCAI. The clinic is focused on health screening, women’s health, paediatrics and diagnostic imaging for corporate and residential clientele in Tan Binh district of Ho Chi Minh City.

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