Thonburi Hospital Group (THG), Thailand's third-largest private hospital group, plans to invest up to 10 billion baht this year acquiring six hospitals, says Dr Boon Banasin, the owner of the group.
He said the group, which has a network of 22 hospitals in Thailand and abroad with a combined 3,000 beds, aims to buy hospitals not only here but also in China.
THG has earmarked 5-6 billion baht to acquire hospitals in Chongqing and Qingdao and one in Inner Mongolia, said Dr Boon, adding that the group expects to seal the deals within the next two months.
"We have set aside a 10-billion-baht budget to acquire more hospitals this year and we are focusing on Asian countries. Half the budget will be allocated to acquiring domestic hospitals since we plan to set up special medical centres, which will attract both local and foreign patients," said Dr Boon.
He said the hospitals that the group aims to acquire in China range from mid-sized to large ones, with capacities of 100 to 1,000 beds.
THG plans to modify the hospitals as healthcare centres to serve rising demand from elderly people in China.
The Chinese government has forecast that there will be more than 200 million senior citizens in the country over the next five years.
Dr Boon said THG is switching investment to Asian countries such as China, Myanmar and Vietnam since competition in the domestic hospital sector is becoming more intense.
"In addition, investing in these countries also means we can help them develop medical science, technology and human resources at the same time," said Dr Boon.
THG also sees the move abroad as a great opportunity to expand business due to the large population in the overseas markets.
He said there are around 20 million people each in Chongqing and Qingdao, suggesting that the demand for medical services is expected to rise in the same direction.
In Thailand, THG is interested in provincial hospitals in Karasin, Surin and Pattani.