Qualitas eyes Vietnam as the next new market opportunity within Southeast Asia
SELANGOR, MALAYSIA – Media OutReach – 30 May 2019 – Homegrown and leading primary healthcare provider, Qualitas Medical Group (‘Qualitas’), aims 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.
“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,” said Dato’ Dr. Noorul Ameen Bin Mohamed Ishack, Founder, Managing Director and Chairman of Qualitas Medical Group at a business briefing session held today.
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. Regarded as the best country in the ‘Best Healthcare Category in the World 2019‘, Malaysia is a thriving and promising market for further growth as the total healthcare industry spending is expected to reach RM80 billion by 2020.
Singapore’s healthcare system aims to ensure that the population has access to different levels of healthcare in a timely and cost-effective manner. However, from 2010 to 2016, a rise in government health expenditure was recorded — from over SGD$3 billion to over SGD$9 billion. This increase has led to the demand for other effective and innovative measures, allowing greater access to affordable healthcare.
In Australia, the improvement of healthcare facilities takes priority ahead of other sectors including infrastructure and education. In line with their Health and Medical Industry Growth Plan, the department of Health in Australia has plans to invest over AUD$1 billion to further grow the healthcare industry in Australia, which in turn will benefit healthcare organisations by supporting them with various initiatives to deliver comprehensive healthcare services to the community.
About Qualitas Medical Group
Qualitas Medical Group (“Qualitas”) was founded in 1997 in Malaysia. With over 20 years of experience in the healthcare industry, Qualitas delivers cost-effective and quality primary healthcare services to the community comprising GP (general practice), dental and medical imaging services.
Today, Qualitas operates a global network of General Practice (GP) clinics, an ambulatory care centre, as well as dental clinics, and diagnostics centres supported by over 1,700 medical doctors, dentists and supporting personnel, backed by a network of over 250 medical clinics, dental clinics (including a dental laboratory) and medical imaging centres.
For more information on Qualitas Medical Group, please visit www.qualitas.com.my