THONGLOR Pet Hospital yesterday announced that it has bought a majority stake in a Phuket facility, marking the company’s expansion into the South.
The company said it had formed a joint venture for the investment deal with Chalong Phuket Pet Hospital, which has operated in Chalong Beach on the resort island for more than 16 years.
Thonglor Pet Hospital owns 51 per cent of the venture, Thonglor Chalong Phuket Pet Hospital, with the rest is held by Chalong Phuket Pet Hospital.
Dr Kitika Chaisupatanakul, chief executive of Thonglor Pet Hospital, said the company currently operates owned 11 branches of Thonglor Pet Hospital, and that the additional 12th branch is its first joint venture.
“With the joint venture, we (Thonglor Pet Hospital) will jointly provide support on internal management as well as the use of an IT system in enhancing the database and medical records of all pets being treated at the hospital,” she said.
“About Bt10 million of an investment budget will be allocated to the facelift and improvement of the existing pet hospital in Phuket.”
Kitika said the company will use its first joint venture in Phuket as a pilot model for other possible joint ventures to enhance pet hospitals in remote provinces in the future.
Kitika said that Thonglor Pet Hospital will also invest about Bt200 million in the next two years by opening four new owned pet hospitals in the next two years (from 2019), of which three will be in Bangkok and one in Rayong.
She said the pet market in Thailand is estimated to see growth of 10 per cent over last year, to about Bt32.2 billion. Pet healthcare accounts about 32 per cent (Bt10.2 billion) of the market, while 45 per cent (Bt14.6 billion) is for pet foods, and 23 per cent (Bt7.4 billion) for pet products. Pet foods, in particular, have seen the highest growth, at 20 per cent a year.
“We are under discussions to explore taking our pet hospitals outside Thailand to potential markets overseas,” said Kitika.
Founded in 1994, Thonglor Pet Hospital opened its first facility in Sukhumvit Road 55 (Soi Thonglor). It is the first pet hospital in Thailand that provides medical care services and treatment for pets 24 hours a day. The pet hospital posted Bt560 million in total revenue in the first nine months of this year and aims to reach up to Bt750 million for the whole period of this year. About Bt860 million in revenue is targeted for 2019.
Dr Anucha Chaisomboonsuk, manager of Chalong Phuket Pet Hospital, said that the hospital has been providing medical treatments for pets in Phuket for more than 16 years.
“It is time for our pet hospital to have greater demand for new management know-how and technology to be enhanced in doing business,” Anucha said.
“The partnership with Thonglor Pet Hospital, which is one of the leading pet hospitals in Southeast Asia, will ensure that we provide better quality services to our pet-loving customers.”