27 Jan Thai company building ‘high-standard’ hospitals in Myanmar

Written by Mizzima Published in Investment Read 4992 times
Thonburi-Hospital-Group
Thailand's Thonburi Hospital Group plans to build two hospitals in Yangon, and is mulling a third in Mandalay. Photo: Thonburi Hospital Group

Thailand's third-largest private hospital group, the Thonburi Hospital Group, says it expects to sign a memorandum of understanding with Ga Mone Pwint Company in Yangon next week to start building two “superior-standard” hospitals in Myanmar.

Dr Boon Vanasin, the owner of the Thonburi group, which has a network of 22 hospitals in Thailand and further afield with a combined 3,000 beds, plans to spend US$100 million [K100 billion] on the two hospitals in Yangon, with hopes for a third in Mandalay.

Dr Boon said his group expected to own 40 percent of the two new hospitals, with 60 percent owned by the Myanmar founded GMP Group, which operates control of retail, real estate and health care firms.

Construction of the two hospitals started in December 2014 and is expected to finish in a few years, with a combined 400 beds.

"THG is the first Thai company to invest in a full-operation hospital in Myanmar. These projects will help improve the standard of health care in Myanmar and help save on medical costs for locals becausethey won’t have to travel to Thailand for high-quality care,” said Dr Boon.

He said Myanmar people ranked number one out of foreign patients travelling to Thailand for medical treatment, followed by visitors from Europea and the Arabian Peninsula.

Dr Boon said rising demand means his group also plans to build a new 200-bed superior-standard hospital in Mandalay.

"In Myanmar we will focus on the middle and upper class as we see strong growth in this market," he said, adding Myanmar's hospital industry has grown more than 10 percent each year it was measured and was expectedto grow up to 15 percent this year as a growing economy allows locals to spend more on medical care.

Dr Boon said his group is also seeking opportunities to invest in other ASEAN member countries, especially once the ASEAN Economic Community becomes fully implemented.

Next year THG is planning an initial public offering to list on the Stock Exchange of Thailand, following its plan to expand business in order to seek profit from the growing medical-related industry.

Courtesy of the Bangkok Post

Last modified on Tuesday, 27 January 2015 18:24