The news was published by the Stock Exchange of Thailand (SET) on its website yesterday evening (August 27).
In a letter attached to the announcement, the company wrote, “Bangkok Dusit Medical Services PLC (BDMS) would like to announce the result of the board management meeting on August 27 at which we approved setting up a branch under the name ‘Bangkok Phuket International Hospital’ to expand our medical businesses in Phuket.”
The deal sees BDMS take over 99.99 per cent of the partnership that owned PIH.
“BDMS will also take responsibility for debt of Phuket International Hospital, which is not more than B416 million,” the latter said. “the transfer of ownership is expected to be finished by the end of 2014.”
PIH was registered as a 151-bed hospital on June 22, 1990, with capital of B195 million under the name ‘Siriroj Hospital’. It has since been expanded to 281 beds.
“The propose of taking over the [International] hospital is to improve our efficiency in serving Thais and foreigners in southern region of Thailand; to improve the logistics of transferring patients from one hospital in the group to another; and to support medical tourism in Phuket.”
Bangkok Hospital Phuket’s PR officer confirmed the news this morning but could give no details.
“The board [in Bangkok] are now in discussions and we will call a media conference as soon as we can reveal details,” she told The Phuket News.
PIH Marketing Manager Piyarat Kulvanit also confirmed the buyout.
However, she said, “Our management team is still managing the hospital as usual.”