Thai Healthcare Group to Target Wealthy Vietnamese Customers

Jul 2023

Thonburi Healthcare Group Plc (THG), a Thai-based company engaging in medical and hospital management services, is partnering with Mithmitree Clinic and Vietnam’s real estate developer IFF Holdings, investing THB 170 million (USD 4.84 million) to develop a wellness clinic in Vietnam. THG targets affluent customers who are interested in holistic healthcare services and anti-aging medicine.

According to the Groups’ chief executive, Vietnam is one of the fastest-growing economies in the world and has a promising healthcare prospect. Besides, wealthy Vietnamese customers have strong purchasing power and they are willing to spend for medical services provided by Thai doctors. Following the plan, IFF Holdings will provide 60% of the investment, while THG and Mithmitree Clinic will be responsible for a further 30% and 10%, respectively.

The new BeWell Wellness Clinic will be inaugurated in Ho Chi Minh City by the end of 2023, while further branches in Ho Tram and Da Nang are scheduled to open by 2025. With a 4.5-year payback time, THG anticipates that this project will have an internal rate of return of about 20%, indicating the importance of the Vietnamese market in the Group’s business strategy.

Previously, THG and Thonburi Bamrungmuang Hospital jointly offered counseling services to the FV Hospital in Ho Chi Minh City. The services, which started in May 2023, have covered construction, interior design, management-system infrastructure, procurement, recruitment, and preparations for in vitro fertilization clinic operations.

(Source: Bangkok Post)

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