PRHG preps listing to fund growth

PRHG preps listing to fund growth

Mr Ronnachit says the funds will be partially used to construct two hospital buildings and a parking facility.
Mr Ronnachit says the funds will be partially used to construct two hospital buildings and a parking facility.

Patrangsit Healthcare Group (PRHG), a local healthcare service provider, is preparing to strengthen its medical operations through fundraising on the Stock Exchange of Thailand.

Chief executive Ronnachit Yaemsaard said the company wants to mobilise funds for projects planned for this year through 2026 as part of a strategy to enhance the efficiency of medical operations.

PRHG recently filed a proposal with the Securities and Exchange Commission to offer up to 54 million shares in its initial public offering (IPO) at a par value of 1 baht apiece.

The total amount of IPO shares accounts for 18% of the company's paid-up capital.

PRHG operates three hospitals with a combined capacity of 270 beds, serving both domestic and international patients. The private hospital group also has a 24-hour cardiac centre that can perform open heart surgery.

Mr Ronnachit said the proceeds will be allocated for the construction of two hospital buildings, a parking facility as well as the purchase of medical equipment.

The remaining amount will be used as working capital and for debt repayment to financial institutions this year, he said.

The company's revenue rose continuously from 1.44 billion baht in 2019 to 1.54 billion and 1.97 billion baht in 2020 and 2021, respectively.

In the first nine months of 2022, revenue totalled 1.6 billion baht, up 15.7% year-on-year from 1.38 billion in 2021.

Net profits surged to 317 million baht in 2021, compared with 60 million in 2019 and 105 million in 2020. Profits totalled 270 million baht in the first nine months of 2022.

"The company focuses on building a strong brand identity as it aims to serve both new and previous patients with innovative solutions and efficient services," said Duenpun Lilavivat, managing director of Pioneer Advisory, which is a financial advisor for PRHG's IPO.

"Patrangsit Hospital Group has always prioritised continued improvement in order to meet international standards for medical treatment and to develop the potential of personnel working for the organisation."

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