BANGKOK, Dec 23, 2024 - (ACN Newswire) - Nakornthon Hospital Public Company Limited (SET: NKT) inaugurated its first day of trading on the Stock Exchange of Thailand (SET) with the resolve to proceed with the business plan to invest in three major projects including: “Nakornthon 2 Hospital” with the vision to expand its services to patients insured under the Social Security Fund; “Nakornthon Long Life Center” designed to serve as a holistic care center for the elderly and individuals requiring long-term care ; and, Project to increase the number of beds at Nakornthon Hospital by another 110 beds to total 260 beds, so as to expand the scope of patient services and to boost the Company’s growth potential.
Assoc. Prof. Yandhet Thongsima, President of Nakornthon Hospital Public Company Limited (NKT), revealed that once the Company became officially listed and began trading on the Stock Exchange of Thailand (SET) under the abbreviation NKT today (December 20, 2024), the Company will focus on expanding its investment according to the business plan and operating according to the Company’s strategy in order to become “one of the country’s leading hospitals”. Currently, the Company is in the process of expanding and leveraging its investment in three core projects to boost its growth potential through the expansion of the scope of patient services at Nakornthon Hospital as well as constructing a new branch hospital. These three core projects are:
1) “Nakornthon 2 Hospital” on Ekachai Road, with a capacity of 151 beds, is expected to carry related capital expenses of approximately 900 million baht, and will initially provide services to self-paying patients. The new hospital is expected to start recognizing revenue within 2025. After this initial phase, the Company will apply for authorization to serve as a Social Security Fund hospital in early 2026 and is expected to start providing medical services to insured persons under the SSF scheme within 2027.
2) “Nakornthon Long Life Center project which will be located in the vicinity of Nakornthon Hospital. This center will serve as a holistic care center for the elderly and individuals requiring long-term care. The expected capital expenditure for this project will be approximately 557 million baht. The center is anticipated to commence operations in 2026, and:
3) The project is to increase the number of beds in service at Nakornthon Hospital by another 110 beds from the current 150 beds to total 260 beds. The expected capital expenditure for this project will be approximately 414 million baht. The additional beds are expected to be made available to patients gradually from 2025 to 2027.
Currently, all three projects are progressing according to plan.
Meanwhile, Nakornthon Hospital, with its location on Rama 2 Road, is the main source of revenue for the company. The hospital has the potential to grow continuously due to its prime location that is potentially destined to be a “New Urbanized District” of Bangkok in the foreseeable future. This fact is due to the zone being one of Bangkok’s prime residential areas with numerous facilities and amenities, including Rama 2 Road, which is the main artery leading out to the West of Bangkok and all the way down to southernmost provinces of Thailand and beyond. Furthermore, the area also connects seamlessly to Bangkok’s central business districts (CBDs) via the Expressway and continuously develops its transportation network infrastructure by the government.
Currently, the district is the site of many horizontal housing projects, schools, department stores, community malls, markets and supermarkets. In addition, Nakornthon Hospital is located close to important government offices such as the Bang Khun Thian District Office and the Bang Khun Thian Branch of the Bangkok Metropolitan Administration’s Land Office.
Dr. Wisan Saipetch, Chief Executive Officer of Nakornthon Hospital Public Company Limited, said that Nakornthon Hospital is currently one of the leading hospitals in western Bangkok with the ability to treat complicated illnesses as a tertiary hospital, while most other tertiary hospitals are concentrated in the eastern part of Bangkok. Nakornthon Hospital consists of 20 specialized treatment centers, such as the Neurology Center, Heart Center, Gastrointestinal and Liver Center, Spine Center, Cancer Center, Dental Center, among others. Additionally, the hospital has one patient care department, namely the Hemodialysis Department.
The Company has formulated a growth strategy consisting of:
1) Determining to become one of Thailand’s leading hospitals.
2) Continuing to develop service quality with expert personnel and medical teams.
3) Leveraging technology to enhance organizational management and efficiency.
4) Expanding the scope of services through the cooperation with leading partners.
5) Leveraging the strength of the brand image and further developing trust and confidence among service users.
6) Expanding the business through the network of hospitals and other health-related businesses, and,
7) Expanding services to foreign service recipients through the appointment of a marketing representative in Myanmar to be the focus of communication with the target group and people who are interested in receiving medical treatments, so that they can travel to Nakornthon Hospital in Thailand to receive treatments more conveniently. Similar foreign market incursions are also in the expansion stage for Cambodia and Bangladesh.
Mr. Yossavee Suttikulpanich, Head of Primary Markets Distribution Division, Investment Banking and Capital Market Function, Siam Commercial Bank Pcl., as a joint financial advisor and representative of InnovestX Securities Co., Ltd., a joint lead underwriter, said that Nakornthon Hospital Pcl. has shown good growth potential due to a combination of strengths, such as being able to provide treatment for both general and complex illnesses, its location in the Rama 2 area which has the potential to become one of Bangkok’s future new developments, cooperation with leading partners to establish a medical center to increase service capability, its large customer base, etc. In addition, the recent IPO offering has been very successful, while its listing on the Stock Exchange of Thailand will help strengthen its financial position to support further business expansions.
Mr. Kongsith Hunchangsith, Deputy Managing Director, Investment Banking Department 1, Trinity Securities Co., Ltd., as a joint financial advisor and joint lead underwriter, said that the recent IPO offering of Nakornthon Hospital Pcl. at the final offering price of 7.80 baht, totaling 1,053 million baht, was well-received by investors due to the strengths of Nakornthon Hospital as one of the leading hospitals in the western part of Bangkok. Moreover, the hospital has a solid plan to expand its international patient base along with the plan to expand its marketing to international customers, as well as further investment to increase the number of beds at Nakornthon Hospital and the constructing new projects. At the same time, the Company’s 2021-2023 performance showed a revenue increase from 1,551.67 million baht to 2,036.89 million baht with an average growth rate (CAGR) of 14.57 percent per annum, and a net profit increase from 183.24 million baht to 282.29 million baht with an average growth rate (CAGR) of 24.12 percent per annum, as a result of the increase in revenue from hospital operations, which was the main proportion of revenue, coupled with the efficient cost and expense management. As for the operating results for the first nine months of 2024, the total revenue was 1,521.34 million baht and the net profit was 190.38 million baht.
Released by Public Relations Dept., MT Multimedia Co., Ltd. for Nakornthon Hospital Pcl.
For additional information, please contact:
PR Manager Thiyaporn “Dah” Sriadunphan
Mobile: +66 (0) 87 556 6974; Email: thiyaporn.s@mtmultimedia.com
Nakornthon Hospital PCL (SET: NKT) https://en.nakornthon.com/home