Nakornthon Hospital is preparing to raise 1.1 billion baht via an initial public offering scheme to expand its healthcare business and improve services for elderly patients, whose numbers are increasing.
The hospital plans to sell 135 million shares to investors at prices ranging from 7.6-8.2 baht, starting from Dec 2.
"We aim to be a leader in the hospital business by offering high-tech medical services to patients, especially those living in western Bangkok," said Yandhet Thongsima, president of Nakornthon Hospital.
Located on Rama II Road in Bang Khunthian district, the hospital has 150 beds to accommodate patients.
As patient numbers increase, the hospital needs to upgrade its facilities by adding beds and building a second hospital named Nakornthon 2 in Bang Khunthian, said Wisan Saipetch, chief executive of Nakornthon Hospital.
A budget of 414 million baht will be allocated to add 110 beds at the first hospital, he said.
The hospital also plans to spend 900 million baht to support the ongoing construction of Nakornthon 2, offering 151 beds.
The construction is more than 30% complete, with the new hospital scheduled to open in 2025.
Nakornthon 2 is set to offer medical services for workers registered under the state Social Security Fund by 2027, which is later than the opening date because of a lengthy process to obtain government approval.
Part of the funding is for the Nakornthon Long Life Centre project, offering healthcare services to convalescent patients and the elderly.
The centre has a budget of 557 million baht and is scheduled to open in 2026.
Thailand became an aged society in 2022, meaning the number of people aged 60 and older comprises more than 20% of the population, according to the Thai Health Promotion Foundation.
The hospital plans to expand medical services to Myanmar, Cambodia and Bangladesh as healthcare demand there has the potential to grow.
Many patients from these three countries fly to Thailand for treatment at the hospital.
Nakornthon Hospital recorded 133,719 patients in 2023.
From January to September this year, the hospital earned 1.5 billion baht, with a profit of 190 million baht.