PAI plans overseas expansion

Preecha Aesthetic International (PAI), operator of PAI Dermatology and Laser Centre, is planning business joint ventures to set up centres for cosmetics and reconstructive plastic surgery in Vietnam and Dubai by the end of this year.

The joint ventures will be run separately with local partners in Vietnam and Dubai.

PAI will invest Bt50 million in each of the two joint ventures, and will hold a 40 per cent share in each. The remaining 60 per cent share will be owned by the foreign partner in each country.

Dr Preecha Tiewtranon, chairman and CEO, said that with the joint ventures, PAI will provide medical support regarding cosmetics surgery as well as supplying a special team of plastic surgeons to the centres both in Vietnam and Dubai.

He said the company has no plans to provide franchising or licensing for its overseas partners. Any partnership will be in the form of joint investment only as the company has big concerns about its treatment quality.

"We have a strong team of more than 30 plastic surgeons, who can be rotated to our PAI centres both locally and abroad. Cosmetic surgeries, particularly breast augmentation and liposuction, are quite popular in Vietnam," said Preecha, who has had experience in plastic and reconstructive surgery for more than 30 years.

For patients who want sex-change surgery, the centre will provide consultation and bring them to Bangkok for the operation as they will require follow-up results for at least five days after surgery.

"We currently have been approached by three potential partners, who run hotel businesses in Hanoi. We will, however, look at their capabilities before making a final decision on whom we will select for the joint venture partnership," said Preecha.

Preecha, a former associate professor at King Chulalongkorn Memorial University, founded PAI in 2000 by gathering his graduate students and setting up the first dermatology and laser centre at Bangkok Nursing Home (BNH).

The company last year invested more than Bt50 million to open PAI Dermatology and Laser Centre on the second floor of Bangkok Mediplex, on Sukhumvit 42.

"We will also invest about Bt70 million to open our PAI centre at Soi Thonglor by October this year. We will allocate another Bt50 million to open our first centre upcountry in Chiang Mai or Phuket by December this year," said Preecha.

He said the company is looking to expand PAI centres to cities such as Samui and Pattaya next year.

"The market for aesthetic plastic surgery and dermatology and laser surgery has not been significantly impacted by the downturn economic factor.

Despite the recession, there are strong demands from people who want to make themselves look better and beautiful," said Preecha. He added the company wants to achieve a growth of 20 per cent this year to Bt200 million in revenue.