(CTN News) – Thailand’s largest private hospital operator anticipates annual revenue to rise more than 10% by 2027 as it adds new beds to accommodate increased demand from international patients.
Bangkok Dusit Medical Services Plc (BDMS) wants to add approximately 600 extra beds to its hospitals, bringing the total to 9,300 by the end of 2027, according to CEO Poramaporn Prasarttong-Osoth.
Increasing Bed Capacity Across Thailand
SET-listed BDMS runs 59 hospitals in Thailand and Cambodia under the names Bangkok Hospital, Samitivej Hospital, and Phyathai Hospital. According to corporate data, the largest sources of foreign patients are Cambodia, China, the United States, Japan, and the United Kingdom.
Ms Poramaporn stated that the corporation would prioritize updating existing facilities, like as cancer centers, over developing new ones, in order to fulfill rising demand for noncommunicable disease treatments.
“There is a lot of growth potential for overseas markets with lower costs of living and medical treatments in Thailand,” she said in an emailed response to Bloomberg inquiries.
“Our hospitals in key travel destinations such as Phuket and Pattaya have received very strong demand from international tourists.”
Prime Minister Srettha Thavisin aims to establish Thailand as the region’s tourism, wellness, and medical hub. The administration intends to seek international governments and health insurers to send more people for medical treatment to Thailand.
Last week, Public Health Minister Somsak Thepsutin stated that the endeavor is part of a 10-year medical-center plan that will be submitted to cabinet for approval.
This month, the government extended visa-free access to 93 nations and territories, up from 57 previously. Visitors can remain for up to 60 days.
The surge in overseas visitors has already helped BDMS, helping to boost its first-quarter net earnings by 17% to 4.07 billion baht. According to business data, revenue from international patients increased to 30% of total hospital income throughout the year, up from 27% overall in 2023.
BDMS is counting on the wellness business trend to continue by constructing a new facility in central Bangkok to accommodate expanding foreign tourist demand, according to Ms Poramaporn.
The Crown Property Bureau has secured a great site at the corner of Sarasin and Lang Suan roads in Bangkok for the BDMS Silver Wellness & Residence project. The project will contain a wellness center, retail space, hotel, and residential units. It is expected to be a big earnings-growth generator once completed in around five years, she said.
BDMS said in 2022 that it will invest approximately 24 billion baht in the new wellness centre. According to Ms Poramaporn, the company’s existing Movenpick BDMS Wellness Resort Bangkok has grown with positive cash flows as a result of the pandemic, which raised awareness of health issues and demand for preventive therapies.
Source: Bangkok Post
