The accreditation will help to boost Samitivej's profile in the international arena, as Samitivej Public Company wants at least half of its patients to come from overseas within the next two to three years, according to managing director and chief executive Raymond Chong.

Currently, international patients account for 37 per cent of the total number.

In an attempt to serve the burgeoning suburbs around Suvarnabhumbi Airport, Samitivej Hospital plans to continue its eastward expansion, Chong said. At present, the group includes three hospitals at Sukhumvit, Srinakarin and Sri Racha, and nine clinics. The hospital will expand its clinics into areas close to large companies. In the first quarter, it opened two new clinics in Nonthaburi and Chon Buri.

While other listed companies averaged 10-per-cent growth in the first quarter, Samitivej grew by 22 per cent, driven largely by patients from the Laem Chabang and Chon Buri areas.

The group of hospitals reported revenue of Bt1.2 billion and a net profit of Bt88 million for the first quarter, and Chong forecast turnover of Bt3.5 billion for the whole year.

However, the growth rate is still short of the 26 per cent to 27 per cent expected, and Chong said growth expectations in the second quarter had been revised down to 20 per cent.

He said Thailand would continue to attract more international hospital patients because medical fees here - even when travelling and lodging expenses are factored in - are still 10 times cheaper than in countries such as the United States the United Kingdom, where welfare healthcare systems have been unable to cope with growing demand.

As a result of the improved quality of its medical services, particularly in orthopaedic surgery, Thailand has also snatched a few patients from Singapore, where patients often go for specialised surgery.

Samitivej's stock closed yesterday at Bt71 per share.

Ki Nan Tsui

The Nation