THG set to expand Myanmar investment

THG set to expand Myanmar investment

Thonburi Bamrungmuang Hospital in Bangkok, operated by THG. The company sees a business opportunity to expand its hospital services in Myanmar.
Thonburi Bamrungmuang Hospital in Bangkok, operated by THG. The company sees a business opportunity to expand its hospital services in Myanmar.

Thonburi Healthcare Group Plc (THG) plans to expand its hospital business in Myanmar following an increase in patients seeking medical treatment.

A feasibility study on the new investment is being conducted and its findings are expected soon, said Tanatip Suppradit, chief executive of THG.

The company, which runs a 97-bed hospital in Yangon, decided in 2021 to delay new investment following the military coup which ousted the government, citing election fraud.

"Demand for medical services continues to increase in Myanmar, especially after the depreciation of the kyat against the baht, causing many patients to avoid flights from their country to seek treatment in Thailand," said Dr Tanatip.

THG plans to increase hospital beds and offer new treatment services to patients.

Dr Tanatip believes the healthcare sector in Myanmar has high potential to grow, though the country has a shortage of medical staff.

The firm also plans to make a new investment in Vietnam by building a hospital specialising in orthopedic treatment to serve growing demand.

THG earlier announced it co-invested in the construction of a 170-million-baht wellness clinic to serve wealthy customers in Vietnam, cooperating with local property developer IFF Holdings and Mithmitree Clinic.

Opened in Ho Chi Minh City late last year, the clinic aims to serve customers interested in healthcare and anti-ageing medicine.

More branches are planned for Danang and Ho Tram by 2025.

According to THG, the healthcare business is growing rapidly in Vietnam, which has a population of 100 million, mostly young people. Its GDP growth is estimated at 5-6% a year.

Last year, THG said it would allocate a 5-billion-baht budget for investment, excluding merger and acquisition plans, between 2023 and 2025, but it is considering making some adjustment to its investment projects.

THG owns 10 hospitals in Thailand, with the total number of beds standing at 1,520.

Do you like the content of this article?
COMMENT (7)