One week ago, Diep Van Phat, chair of Ipak, unexpectedly announced that the hospital will shut down on April 28. 

Capitalized at VND2.5 trillion, Ipak was hoped to help the overloading of the state-owned hospitals in districts 2, 9 and Thu Duc and receive patients from Dong Nai province. However, after two years of operation, the hospital has to stop operation because it ran out of money.

Capitalized at VND2.5 trillion, Ipak was hoped to help the overloading of the state-owned hospitals in districts 2, 9 and Thu Duc and receive patients from Dong Nai province. However, after two years of operation, the hospital has to stop operation because it ran out of money.

Hundreds of doctors and medical workers at the hospital were shocked with the statement about the closure as they still have not received salaries for February and March. 

Mai Tien Dung, director of Ipak, admitted that the hospital had to shut down because it did not have adequate financial capability. 

“Two investors have been contacted, but things did not go as expected,” he said, adding that the hospital is now incurring a loss of over VND60 billion.

Phu Tho, another privately run hospital on Doc Lap Road of Tan Phu district, located on a large area of 9,800 square meters, has also suspended its operation after six years of operation. 

The owner of the hospital has reportedly ‘fled for her life’, leaving unpaid salaries to workers and money to shareholders, worth hundreds of billions of dong.

The hospital has been offered for sale at the starting price of VND390 billion. However, no investor has shown interest in buying it.

“The price is too high if considering it a normal property. I won’t buy it to continue to develop as a hospital because it is difficult to attract patients,” a real estate developer said when asked if he intends to buy Phu Tho.

A physician, who was once hired to work as deputy general director of the hospital, revealed that the hospital, though capitalized at trillions of dong equipped with modern expensive facilities, had few patients.

“Some years ago, Phu Tho, like other privately run hospitals, were not allowed to provide services to the patients with health insurance cards (i.e the state doesn’t share examination expenses if patients use private hospitals’ services). Therefore, patients don’t go to private hospitals,” he said.

Vu Anh International Hospital in Go Vap district, which was advertised as a ‘5-star hospital’, has been operating at a moderate level for many years with few patients. 

In the first years of operation, Vu Anh accepted to pay up to VND50-100 million a month to every physician, to attract qualified specialists. However, the hospital has lost patients because of high service fees.

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