[E-Magazine] Healthcare - nearly 2 decades of buildup and the ambition to become a billion-dollar domain

“FPT’s capabilities are not sufficient for medical device development. Let’s send some personnel to Japan for a period of 3 to 6 months to learn,” from that advice of a Japanese “uncle”, FSOFT “stepped” into the Healthcare domain. Right after that, 5 engineers and one comtor were sent to Japan. After 6 months, FSOFT won the first project in the Healthcare domain from client Hitachi Healthcare, in which FSOFT was responsible for the development of the software control applications for two product lines: CT Scanner and Magnetic Resonance Imaging (MRI).” Vice FSU Lead of GHC Nguyen Do Duc Anh commented: “This is a successful project, becoming the foundation for the 17-year collaboration between FSOFT and Hitachi Healthcare, now known as Fujifilm Healthcare.”

In 2010, FSOFT established the FMIS (FSOFT Medical & Information System), led by Mr. Nguyen Thanh Lam, FSOFT’s former CEO. In this context, the FMIS.BU1 in Ho Chi Minh City campus was oriented and deeply developed in the field of medical devices. It was considered the first Healthcare domain of the Software Company. Several years later, FMIS.BU1 was divided into various FSUs with new names such as FSU15.BU1, FSU17.Z15, DTL.Z15, FHM.GHS. In 2017, Healthcare development expanded to Hanoi. Two projects on Digital Health Platform and Pharmacy with BI in the United States and Medadvisor in Australia respectively opened up many opportunities, posing a dilemma: a lifelong commitment to mass production or investment in a specialized area to leave an impress on customers.

At that time, Mr. Chu Canh Chieu and his colleagues at FSU1.BU1 determined to “bet it all” in the Healthcare sector. BU FSH (FPT Healthcare Solution) was founded, with the target to mark FSOFT’s name in the list of top 100 global digital healthcare solution provider.

It can be seen that since 2017, healthcare projects were distributed in all the campuses of FSOFT the North and the South of Vietnam. Both units in Healthcare at that time, which were FHM.GHS and FHN.FHS, wanted to collaborate. “The leaders and the employees in the units all wanted to share knowledge and experiences, seeking for collaboration in order to reach the mutual target of forming professional and in-depth healthcare capabilities of FSOFT. This is a big concern of the team,” said Mr. Chieu.

In 2020, the escalation of Covid-19 worldwide had reshaped the healthcare sector. People shifted from traditional medical examinations to online healthcare services, with increasing demands related to health diagnostic activities, for example the rapid increasing need for diagnostic testing. In December 2020 alone, FHN.FHS had 12 healthcare projects spanning across Asia, Europe, Australia, and the United States. Particularly noteworthy, starting from 2021, FSOFT successfully secured approximately $12.5 million in fixed-price projects for developing control software for diagnostic testing machines.

The outbreak of Covid-19 was a turning point that opened up many “one-of-a-kind” opportunities for the Healthcare domain. Being extensively expertised in such area, FSOFT’s CEO Pham Minh Tuan decided to set up the Healthcare scheme in 2022 to seize the moment. Under the close guidance of its BOD and departments, FSOFT has gradually improved its image and capability in this field.

As a result, in 2022, FSOFT had its first healthcare projects across markets in Asia and Europe with renowned customers such as Fujifilm Healthcare, Panasonic Healthcare, Omron, Olympus, Sysmex, Terumo, Beckman Coulter, Cannon, Zuellig Phamar, and so on. Healthcare became a “promised land” of BUs like BU HDP, HIS, HLS under FHN and GHS under FHM, earning a total revenue of up to USD30 million and nearly 1,000 employees.

Recognizing the ripe potential of the Healthcare domain in terms of customer base, global market, and accumulated experience, in early 2023, FSOFT’s leadership decisively established GHC – a specialized unit dedicated to the Healthcare domain. This decision was based on the consolidation of Healthcare projects from both the Southern and Northern regions.

FSOFT CEO Phạm Minh Tuấn commented: “With nearly 20 years of experience in the Healthcare sector, possessing a client list of the world’s top leaders, and in the context that spending on Healthcare always increases whether in crisis or pandemic, the trend of applying AI and new tech for the next generations of Medical Solutions,… the Board of Directors has decided to make Healthcare a priority and expected this domain to double in growth every two years, becoming the highest productivity sector in FSOFT, expanding the Medical Device segment to the US, and bringing the Healthcare Platform to JP and APAC.”

Going with the flow, GHC set the objective to “Double the revenue every two-year.”

In the first year of the union of healthcare units in two regions, GHC focused on the capability development and expansion of market with two main strategic sector: DHP (Digital Health Platform): An integrated platform for digital healthcare systems; SaMD (Software as a Medical Device): Software utilized for high-tech medical devices.

Closing the fiscal year 2023, GHC achieved a revenue of USD32 million with an approximate workforce of 1,000 employees. The unit also brought the prestigious title of Top 10 Outstanding Digital Technology Companies in Vietnam 2023 (Healthtech category) awarded by the Vietnam Software and IT Services Association (VINASA).

With the slogan “Energetic – Quality-centric – Well-being – Passionate,” the unit has also achieved remarkable results. In the training sector, GHC achieved a total of 989 new certificates, becoming the leading entity (capturing over 60%) in the number of crucial certificates in the Healthcare software technology field in Vietnam. Holding international certifications specialized in Healthcare such as HL7 FHIR R4, Kubernetes, Hitrust, GHC has strengthened and increased global customer trust.

Alongside making an impression on numerous new clients, GHC collaborates with OBs (overseas branches) to penetrate potential markets such as Singapore, Japan, South Korea, the United States, the United Kingdom, Australia, Germany, the Netherlands, Sweden, Thailand, laying the groundwork for significant ventures.

Having developed expertise in the field, providing solutions and products to customers becomes imperative. Therefore, GHC consistently invests resources and funds to nurture new ideas and solutions. The eCarePlus solution on the Digital Health Platform is a testament to this strategic direction.

After 2 years of research, in 2023, eCarePlus won the first contract of SGD45,000, opening up opportunities with medical and healthcare businesses, associations worldwide.

With the determination to build unique solutions and products, GHC also integrates artificial intelligence (AI) technology to enhance the effectiveness of healthcare software. In line with the direction set by the FPT Corporation, GHC is actively establishing strategic collaboration programs with AI units within the group, materializing ideas for AI-based solutions in healthcare such as AI-Scribe, Smart Diagnostic Imaging, and so on.

Director of GHC, Mr. Chu Canh Chieu, asserts: “Collaboration is the guiding principle for GHC’s elevation.” Therefore, starting from 2024, the VI plans to collaborate with other FSUs, FCCs, and domains to provide comprehensive services to customers, enhancing capabilities in the Healthcare sector. It aims to coordinate with mass units to deliver major battles using a supply chain model and partner with international consulting companies to strengthen its capabilities.

Every strategy and action is geared towards “leveling up GHC to become an internationally recognized domain in the Healthcare software services sector.”

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