BDA advises Kim Dental on US$24m Series B capital raise led by Asia Impact Investor ABC World Asia

BDA Partners is pleased to announce that its client, Kim Dental, Vietnam’s largest private dental care platform, has raised US$24m in Series B round. The investment was led by ABC World Asia, a PE fund dedicated to impact investing across Asia, seeded by Temasek. Proceeds from the round, which saw participation from existing backer Aura Private Equity, among others, will support Kim Dental in expanding the delivery of affordable and reliable oral health services across Vietnam.

Kim Dental owns and operates a fast-growing network of 19 dental clinics across four cities. The clinics provide dental check-ups and treatments as well as more advanced orthodontics, prosthodontics, oral surgery and implants. Kim Dental employs 120 dentists and dental surgeons, as well as over 600 clinical and operational staff serving over 23,000 patients per month. Kim Dental also operates a dental laboratory to support its clinic network with in-house production of crowns, dentures and bridges.

BDA Partners was the exclusive financial advisor to Kim Dental on the transaction.

David Heng, CEO of ABC World Asia, said, “The improvement of health outcomes is a key impact focus for us. Oral health, despite being a key component of primary healthcare, is often neglected and poses a major public health concern in developing countries. Kim Dental is delivering affordable and quality oral healthcare to communities across Vietnam. With its comprehensive approach towards professionalizing dental operations, improving clinical training, and elevating customer service, Kim Dental is driving positive oral health outcomes anchored on affordability, quality, awareness, and prevention. We look forward to supporting Kim Dental as it continues to contribute to universal health coverage, and prevent and control non-communicable diseases in Vietnam through better oral health.”

Andrew Nai, Director of Aura Private Equity, said, “Aura Private Equity was an early investor in Kim Dental and is proud to follow on in this landmark round led by ABC World Asia. Aura Private Equity was attracted to Kim Dental as the market leader in Vietnam, providing world class oral hygiene services at affordable prices. We see strong community outcomes, as well as a significant market in Vietnam for affordable healthcare. This transaction is a milestone for Aura Private Equity, especially in light of COVID-19. It’s our first collaboration with ABC World Asia, and we’re delighted to partner with them to support Kim Dental’s founders in further scaling their business.”

Viet Huynh, CFO of Kim Dental, said, “With the support of ABC World Asia, Aura Private Equity and other new investors, Kim Dental is well-positioned to expand our delivery of international-quality oral healthcare to fast-growing communities across the country. We’ll continue to work hard to increase access, quality, and demand for oral healthcare in Vietnam, and contribute to more positive overall healthcare outcomes.”

Andrew Huntley, Managing Partner of BDA Partners, and Head of Healthcare, said, “This is the second transaction in two weeks in the dental ecosystem on which BDA has advised. We’re pleased to have used our insights and expertise to help Kim Dental find the ideal partners to fund its growth in the exciting Vietnam dental space.”

Huong Trinh, Managing Director of BDA Partners, said, “We’re happy to have advised Kim Dental on the Series B raise. This transaction reaffirms BDA’s ability to deliver the best results for clients irrespective of the pandemic, to connect fast-growing local businesses with international PE firms.”