Thonburi Healthcare Group expands operations in Myanmar

Thonburi Healthcare Group Plc (THG) is set to broaden its hospital operations in Myanmar in response to the rising demand for medical treatments. The executive chief, Tanatip Suppradit, disclosed that a feasibility study on the new investment is currently underway with results anticipated imminently.

In 2021, THG opted to postpone new investments due to the political upheaval caused by the military coup. However, the company, which currently operates a 97-bed hospital in Yangon, is now keen to augment the capacity of hospital beds and extend new healthcare services to its patients, Dr Tanatip.

“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.”

The healthcare sector in Myanmar, according to Dr Tanatip, has a significant potential for growth, despite the notable shortage of medical staff. In addition to the expansion in Myanmar, the company also plans to venture into Vietnam by constructing a hospital specialising in orthopaedic treatments.

Previously, THG announced a co-investment towards a wellness clinic worth 170 million baht, serving the affluent clientele in Vietnam. This venture was in collaboration with local property developer IFF Holdings and Mithmitree Clinic.

The clinic, which opened its doors in Ho Chi Minh City late last year, caters to customers interested in healthcare and anti-ageing treatments. Plans are also underway to extend the clinic’s presence to Danang and Ho Tram by 2025, reported Bangkok Post.

THG also highlighted the rapid growth of the healthcare business in Vietnam, a country with a population of approximately 100 million, predominantly young individuals. The GDP growth in the country is estimated to be between 5-6% annually.

Last year, THG announced a planned allocation of a 5-billion-baht investment budget, excluding mergers and acquisitions, between 2023 and 2025. However, there are considerations to make some adjustments to their investment projects. Currently, THG owns ten hospitals in Thailand, boasting a total of 1,520 beds.