Singapore investment firm Sweef Capital has made strategic investment in Vietnam-based USM Healthcare (USM) to increase access to affordable medical devices and orthopedic products.

Sweef Capital announced in a statement on Monday its second investment of its Southeast Asia Women’s Economic Empowerment Fund (SWEEF) in USM Healthcare (USM), the first company in Vietnam to locally manufacture critical cardiovascular products.

According to the statement, this strategic move not only diversifies the company’s portfolio but also places it at the forefront of addressing the growing demand for orthopedic solutions in Vietnam and beyond.

USM has also successfully ventured into export markets, marking another milestone in its growth story.

It said USM’s broad portfolio aligns perfectly with SWEEF’s overarching mission to support and promote innovative enterprises led by women.

It also noted this collaboration strengthens the company’s position and highlights the potential for transformative impact through gender equality and diversity in healthcare leadership and the workforce.

USM was founded in 2012 by Ms VÕ XUÂN BỘI LÂM, a leading figure in medical devices manufacturing in Vietnam.

Lam identified a strong need for domestic manufacturing capabilities that would help Vietnam reduce its dependence on imported high-technology cardiovascular devices.

USM currently produces coronary stent systems, PTCA balloon catheters and Intravenous catheters used in interventional cardiology.

Its product range also encompasses cardiovascular accessories, medical consumables, traumatology, and orthopedic products.

Much like the groundbreaking strides in cardiovascular products, Lam sees vast potential in establishing domestic manufacturing capabilities for orthopedic products.

The expansion into orthopedics underscores her commitment to help bolster self-sufficiency and innovation in Vietnam’s healthcare industry.

“We warmly welcome SWEEF’s investment in USM, recognizing it as more than a financial partnership,” said Lam.

According to her, this is a strategic alliance, fortified by their common commitment to drive transformative change within Vietnam’s healthcare and medical devices industry,

She said that together, they are dedicated to ensuring that affordable medical devices and orthopedic products are within reach of those in need.

“Beneath the surface of this shared commitment lies a deeper purpose—the promotion of women’s economic empowerment,” Lam said.

According to her, this goal is pursued through the creation of employment opportunities and the implementation of supportive workplace policies that contribute to a more innovative and resilient Vietnamese health sector.

“Our partnership is multifaceted, aiming to revolutionize healthcare accessibility and empower women in our organization, fostering a more equitable and inclusive work environment,” she added.

Meanwhile, Sweef Capital Managing Director Jennifer Buckley, said SWEEF’s investment in USM was a pivotal step advancing the cause of accessible and affordable healthcare in Vietnam.

“It’s a commitment to improving health outcomes and reducing mortality rates, particularly those attributed to cardiovascular disease,” she said.

She also said at the heart of this transformative journey is a remarkable woman entrepreneur who recognized the urgent need for domestic manufacturing capabilities to ensure that essential medical devices and orthopedic products are readily accessible to the Vietnamese population.

“She’s a role model in how she focuses on addressing unmet community needs in a sector where women aren’t commonly found in leadership positions,” she added.

Beyond the creation of jobs, she said the investment supports women’s economic empowerment within the company.

“USM’s story is a testament to the power of visionary leadership and the profound impact it can have, not only on the healthcare industry, but also on the wellbeing and future of the people it serves,” she added.

Johannes Bill Ladegaard, the Head of Alternative Investments at Danish pension fund Pædagogernes Pension (PBU), said SWEEF’s investment in USM was a prime example of what PBU looks for in terms of beneficial partnerships for impact.

“As a proud women-led business, USM is already demonstrating the success of its business strategy and the Sweef team’s support will enable USM to grow the commercial and social value it delivers over time,

“The potential here is immense and exciting,” he added. PBU is an initial funder for SWEEF.

SWEEF’s first investment was in Vietnamese education technology company TEKY, In May 2023.

Sweef Capital is a women-led impact investment firm that invests in the potential of women and the future of Southeast Asia.

As a private equity firm, Sweef Capital focuses on investing equity and quasi-equity capital in growth-stage companies, primarily in Vietnam, Indonesia and the Philippines, where its experienced investment professionals are well-established.

The firm targets investments in growth markets including education, healthcare, food systems and climate resilience, sectors that are experiencing strong and increasing demand.

PayPal invests in Sweef Capital’s SWEEF and Quona Opportunity Fund