BANGKOK Dusit Medical Services (BDMS) has announced a plan to acquire Mayo Hospital for Bt1.39 billion after securing a big deal to buy Bangkok-based Swissotel Nai Lert Park Hotel last month.
According to a notice sent to the Stock Exchange of Thailand on Wednesday, BDMS’s board of directors approved subsidiary Paolo Medic Co’s acquisition of the entire business of Mayo Polyclinic Ltd, operator of Mayo Hospital.
Prasert Prasarttong-Osoth is a major shareholder of BDMS, which operates Bangkok Hospital facilities and other brands including Bangkok Airways.
Paolo Medic will acquire 99.99 per cent of the total shares of Mayo Polyclinic. Paolo Medic will also acquire all the company’s assets, liabilities, rights and obligations under agreement, and all its employees.
However, the completion of the entire business transfer is subject to the fulfilment of conditions precedent.
Mayo Hospital has 162 beds and earned a profit of Bt38 million in 2014 and Bt41 million in 2015.
Paolo Hospital Group claims to have assets worth Bt16.9 billion and has been part of BDMS for years.
Mayo Hospital’s business is expected to grow further as it is located in the northern part of Bangkok where an extended mass transit project is set to operate in 2019.
On September 28, BDMS spent Bt10.8 billion to acquire a 15-rai (24,000-square-metre) plot and Swissotel Nai Lert Park Hotel. It plans to build a wellness clinic on the site, which is expected to enhance BDMS’s reputation and brand recognition globally.
The clinic is also expected to enhance Thailand’s reputation as a medical hub and increase the country’s competitiveness as a leading provider of healthcare services, which is one of the key areas outlined by the government in its “Thailand 4.0” model for economic development.
An executive at BDMS said another BDMS sister company, Medicpharma Co, known in Thai as Saha Phaet Phesat Co, planned to launch a new factory in Samut Sakhon province on Tuesday that would produce medicines and other medical products.
The group has invested nearly Bt1 billion to expand its medicine-production capacity to serve the group as well as other hospitals.