Chinese expansion boosts optimism for Thonburi Healthcare growth path
THONBURI Healthcare Group (THG) has expressed confidence in its business outlook, saying that its Welly Hospital in China has received a good response after its opening.
THG said that towards the end of last year there were increasing numbers of local and foreign patients at its hospitals. Welly Hospital in Weihai, China, has enjoyed strong feedback after the opening in November last year.
Investment projects such as the joint venture with Ar Yu International Hospital in Myanmar and the development of Thonburi Rehabilitation Hospital (Bumrungmuang Road) are expected to gradually begin their operations in 2018.
Dr Boon Vanasin, THG chairman of the board, said that the company was confident that its business fundamentals and strong financial position would help it to expand its business in Thailand and overseas as planned, such as the development of Thonburi Rehabilitation Hospital (Bumrungmuang Road), JIN Wellbeing County project for elderly care with complete medical services in Rungsit area, and the joint-venture with Ar Yu International Hospital in Myanmar, to generate consistent growth.
“The strength of THG is its expertise in nursing and complete healthcare services at affordable prices while other competitors focus on hospital business for competitive advantages,” Boon said.
“The business operation in 2017 of Thonburi Hospital and Thonburi Hospital 2 showed good revenue and numbers of patients due to their confidence in the medical teams and their expertise in treatment services, as well as modern technology used for treatment.”
The business operation of Welly Hospital in Wethai, a popular tourist destination among retired people, is under the operation of Weihai Welly Hospital Company Limited, in which THG holds 58 per cent of the shares. It is the first Thai-operated hospital to receive approval to fully operate a hospital in mainland China.
Full operations began in November last year. “This leads to the company’s readiness in providing medical services for better coverage in terms of skilful doctors and modern medical equipment.” Boon said.
“The numbers of patients have increased, especially the in-patients who have to stay at the hospital for their treatments, leading to a rise in its operations to satisfactory level.
“For more than 40 years, our medical service business under the brand of Thonburi Hospital has received confidence from the patients due to their confidence toward our medical teams and treatment technology.
“I am confident with the targeted growth due to the improvement of our financial position after the IPO leading to an enhancement of our competitiveness, the decrease of the financial cost after the debt repayment to financial institutions, and other investment plans.”
Boon said that the business operation in 2018 received support from new investments of the hospital that ere expected to gradually be completed this year.
Ar Yu International Hospital, with 200 beds, is being built in Yangon. It is expected to open in the second quarter of this year.
“The company has a plan to consider an increase in its shareholding from 10 per cent to 40 per cent in Aryu International Healthcare Company Limited, the developer of the project. The increased shareholding would reflect the good opportunities in Myanmar, due to the increasing demand for treatment services.
The development of Thonburi Rehabilitation Hospital (Bumrungmuang Road) is expected to be completed this year. The services cover an outpatient’s department, rehabilitation rooms and other treatments such as fertility centres and a gastrointestinal and liver centre, to serve rehabilitating patients from Thonburi Hospital, its network hospitals, and nearby hospitals. This will helps Thonburi Hospital to handle more severely ill patients. Meanwhile, special unit clinics for outpatients such as a health check-up centre, physical therapy centre and an anti-ageing centre, are expected to begin their services in 2018.
The company will use its expertise in medical and healthcare business to look for opportunities for overseas business expansion, especially in those countries with strong economic growth, in order to expand its investment and improve its prospective business operation in the forms of joint ventures, consultancy, and hospital management. This would lead to long-term growth with stability, the company said.
