Ambitious N Health targets over 300% growth in 5 years
N Health, a healthcare service provider supporting leading hospitals both domestically and overseas, has set a target to increase its annual revenue to Bt10 billion in the next five years, from Bt2.4 billion posted last year.
The company also expects to raise the contribution from within Asean from the current 2 per cent of annual revenue to about 20 per cent in the same period.
N Health has been in operation for 14 years as a wholly owned subsidiary of Bangkok Dusit Medical Services (BDMS). With Bt200 million in registered capital, the company provides a wide range of medical services, including laboratory services, biomedical engineering services, infection-control services, and supply-chain management, to both BDMS and non-BDMS hospitals.
Narongrid Galaputh, managing director of N Health, said the company had already set up operations in three Asean countries outside its home base of Thailand – in Cambodia, Myanmar and Laos.
"We set up joint-venture operations four years ago in Myanmar as the first country we expanded into from Thailand. We also established a wholly owned operation in Cambodia last year, and a joint venture in Laos at the beginning of this year," he said.
The company also set up a holding company in Singapore in 2013 to oversee investment and business expansion in the region.
"We want to promote N Health to be a well-known regional branded player in the AEC [Asean Economic Community] market. We plan to make N Health a recognised regional brand, especially in CLMV [Cambodia, Laos, Myanmar and Vietnam] countries and Indonesia, within the next three years," he explained.
Narongrid said Thailand was more advanced than other countries in the region in the area of medical services, and now in a position to expand its skill and expertise to other Asean nations.
The Kingdom’s strong point is its position as a medical hub and the ability to complement this strength with the tourism industry and information technology, tying these elements in with the global trends of an ageing society and an increasingly urban lifestyle, he said.
BDMS currently operates 43 hospitals, two of which are in Cambodia.
N Health generated Bt2.4 billion in revenue and Bt240 million in net profit last year, with 80 per coming from the provision of services to hospitals in the BDMS chain.
"We plan to achieve Bt10 billion in annual revenue in the next five years, and to have strong operations in all potential markets in the region; that is, in Thailand, Cambodia, Myanmar, Laos, Indonesia, Vietnam and Malaysia," he said. "For our overseas expansion, we want to form joint ventures with strong local partners in particular markets."
N Health, meanwhile, plans to launch a new tele-medicine service, using telecommunication and information technologies to support Thai hospitals wishing to provide clinical healthcare at a distance, said the managing director.
The new service will be in line with the company’s view of Asean as a single market, with the AEC scheduled to come fully into effect at the end of this year.
