Alina Vision operates two hospitals in the underserved Vietnamese ophthalmology market, providing affordable and high-quality eye care services for people across all income levels to combat avoidable blindness. 

Alina Vision was founded by international development organisation The Fred Hollows Foundation in 2018. Over  five years The Fred Hollows Foundation and Rohto Pharmaceutical, a leading eyecare company in Japan, have provided financial backing, eye surgery training and clinical support to Alina Vision to grow the organisation from inception to more than 80 employees across two eye hospitals.



Investment date  January 2024 – Read the Deal Announcement
Sector Ophthalmology
Region Vietnam
Investment type Growth


Investment Rationale

Alina Vision completed over 2,800 cataract surgeries in 2023 and has a vision to grow its network to a chain of hospitals across Vietnam with significant increased capacity. Cataracts represent the most common cause of blindness in individuals aged 50 years and over in Vietnam, affecting mainly women.  The demand for cataract surgeries is expected to rise significantly, surpassing the available service supply.​ The investment of industry specialist growth capital investor TVM Capital Healthcare will provide Alina Vision access to operational, clinical, training, and management resources, in addition to the equity investment, and accelerate the growth plans while elevating quality of care.


  • High demand for regional expansion into additional provinces of Vietnam
  • Cataract disease is the key source of avoidable blindness in Vietnam ,
  • Best-in-class ophthalmic care
  • Private hospital to target avoidable blindness by focusing on primary and secondary eye care (esp. cataract)
  • Set up by a high reputable foundation with decades of eye care experience Surgery outcomes significantly above the national average and the WHO.

Diversity & Gender Equality

  • Training of 12 surgeons, 20 ophthalmologists, 45 ophthalmic nurses and 25 optometrists 
  • Focus on gender equality and empowerment of female staff. 2/3 of trained surgeons are female.​
Future Growth Prospects
  • Cataract surgeries capacity lower than annual new identified cases