Nissha acquires majority stake in Vietnam medical device maker

On January 23, Nissha Co., Ltd. announced its decision to acquire a 60 per cent stake in USM Healthcare Medical Devices Factory JSC, a manufacturer headquartered in Ho Chi Minh City. The acquisition will be carried out by Nissha Co., Ltd. together with its local subsidiary, Nissha Vietnam Co., Ltd., marking a strategic expansion of the group’s healthcare manufacturing operations in Vietnam.

Following the deal, USM Healthcare will become a subsidiary of the company. Additionally, USM Healthcare is scheduled to be classified as a specified subsidiary of the company after the share acquisition, as the value of capital stock of USM Healthcare exceeds 10 per cent of the capital stock of the company.

Nissha has set a long-term strategy focused on creating economic and social value by addressing global challenges in healthcare, mobility, and sustainability through the integration of talent and technology. The group aims to raise the medical segment’s share of consolidated net sales to 50 per cent by 2030, with growth centred on medical devices, pharmaceuticals, and healthcare products.

USM Healthcare manufactures and sells cardiology products such as stents used in minimally invasive catheter-based treatments, as well as orthopaedic devices. The company operates a vertically integrated model covering product design and development, regulatory approval, manufacturing, and sales, giving it a cost and pricing advantage.

As Vietnam’s only domestic stent manufacturer, USM Healthcare has recorded steady growth, supported by policies favouring locally produced medical devices, and is expected to continue expanding. The company is also leveraging its design and manufacturing capabilities to develop contract design, development, and manufacturing services for medical device producers.

Livzon subsidiary seeks control of Imexpharm A subsidiary of China’s Livzon Pharmaceutical Group has launched a major tender offer for Imexpharm, signalling a potential change in control at the Vietnamese drugmaker.

Expansions in healthcare more likely Vietnam’s healthcare sector closed 2025 with robust merger and acquisition (M&A) momentum. Major transactions from institutional investors demonstrated the market’s depth, while established platforms backed by private equity (PE) pursued strategic add-ons and infrastructure expansion. The year demonstrated that Vietnam’s healthcare M&A market operates on multiple growth vectors simultaneously.

Vietnam moves to enhance disease prevention, equity, and sustainability Vietnam is completing the legal framework to meet urgent requirements for policy transformation and enhancing disease prevention capacity.