Vietnamese medical manufacturer receives investment from Sweef Capital

Sweef Capital has recently announced a second investment by its Southeast Asia Women’s Economic Empowerment Fund (SWEEF), in USM Healthcare (USM), the first company in Vietnam to locally manufacture critical cardiovascular products. The value of the investment was not disclosed.

The 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.

USM’s broad portfolio aligns perfectly with Sweef’s overarching mission to support and promote innovative enterprises led by women. This cooperation strengthens the company’s position and highlights the potential for transformative impact through gender equality and diversity in healthcare leadership and workforce.

It 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.

Ms. Vo Xuan Boi Lam, Founder of USM, 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 sector.

“We warmly welcome Sweef’s investment in USM, and recognize it as more than a financial partnership,” Ms. Lam said. “It is a strategic alliance, fortified by our common commitment to drive transformative change within Vietnam’s healthcare sector and medical devices industry. Together, we are dedicated to ensuring that affordable medical devices and orthopedic products are within the reach of those in need.”

Ms. Jennifer Buckley, Managing Director of Sweef Capital, said its investment in USM is a pivotal step in advancing the cause of accessible and affordable healthcare in Vietnam. “Beyond the creation of jobs, the investment supports women’s economic empowerment within the company,” she said. “USM’s story is testament to the power of visionary leadership and the profound impact it can have, not only on the healthcare sector but also on the wellbeing and future of the people it serves.”

Mr. Johannes Bill Ladegaard, Head of Alternative Investments at Danish pension fund PBU, said Sweef’s investment in USM is 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 it to grow the commercial and social value it delivers over time,” Mr. Ladegaard said. “The potential here is immense and exciting.”

The investment in USM was also supported by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP) under its Catalyzing Women’s Entrepreneurship Program.

Mr. Jonathan Tsuen Yip Wong, Chief of ESCAP’s Innovation, Enterprise and Investment Trade, Investment and Innovation Division, said ESCAP was committed to promoting a financial ecosystem in the Asia-Pacific region that was responsive to the needs of women and an environment in which women-owned and women-run businesses could innovate, compete and thrive. “Through our longstanding partnership with Sweef Capital, from the inception of the Fund to its growth as a leader in the field, we have forged a strategic alliance to push this agenda forward,” he said. “We are proud to support Sweef’s landmark investment in USM, which signals the promising advancements in the gender lens investing landscape in the region in recent years, and the wealth of potential yet to be unlocked.”