Thonburi Hospital Group (THG), owned and chaired by property tycoon Boon Vanasin, plans to spend US$612million over2 years to expand its domestic and international presence. THG recently clinched a deal with China's local government to develop3 hospitals at a cost of $200 million each. It will invest half of the tot
Thonburi Hospital Group (THG), owned and chaired by property tycoon Boon Vanasin, plans to spend US$612million over2 years to expand its domestic and international presence.
THG recently clinched a deal with China's local government to develop3 hospitals at a cost of $200 million each. It will invest half of the total costs and will be responsible for hospital management.
Construction will take 2 years, and the hospitals will serve high-end customers and foreigners.
"Demand for quality medical services is a lot higher in China than Thailand. Some 3% of the Chinese population or 39 million are rich people who demand world-class hospital treatment," he said.
Health care remains one of the controlled industries in China for fear of rising medical costs, but the government has recently started allowing the private sector, particularly foreigners, to invest in healthcare services.
Apart from China, the group will build a 150-bed hospital in Yangon, which will be finished within a year and serve the middle and upper classes.
Plans to invest in Cambodia are expected to be settled this year. If the group teams with a local bank in Cambodia, construction should finish in 2years.
Initial plans are to have a 150-bed Cambodian hospital.
Locally, THG will construct three new hospitals costing in the southern provinces of Pattani, Yala and Narathiwat — three provinces where businesses have been reluctant to invest due to the violent insurgency.