Message from Group CEO & President
In the past several years, Thai medical knowledge and advancements have greatly expanded leading to medical care and treatment that meet the recognized standards of care. Thailand has also seen continuous developments in business and industry. One of the ten industries that the Thailand 4.0 Policy is developing for the future is the Medical Hub, which focuses on public health and medical technology (health, wellness and biomed).
To achieve our vision of being the leading hospital network in the region and of Thailand becoming a Medical Hub, the Company continues to drive our strategy in creating differentiation and emphasizes vertical growth. We have made continuous investments in order to develop medical care potential of our network hospitals and our Center of Excellence Network (includes 9 hospitals: Bangkok Hospital, Samitivej Sukhumvit Hospital, Samitivej Srinakarin Hospital, Phyathai 2 Hospital, Bangkok Hospital Pattaya, Bangkok Hospital Phuket, Bangkok Hospital Chiang Mai, Bangkok Hospital Udon and Royal Phnom Penh Hospital). Moreover, the Company has plans for Bangkok Hospital Rayong to be the tenth Center of Excellence in the BDMS Group, in accord with the development of the Eastern Economic Corridor (EEC).
Furthermore, the Company has continued the collaboration with leading medical institutions, such as The University of Texas MD Anderson Cancer Center, Hannover Medical School, Missouri Orthopedic Institute and Oregon Health & Science University (OHSU). We organized the BDMS Academic Annual Meeting 2017: Global Partnership for Excellent Healthcare towards Thailand 4.0 in order to enhance Thai medical knowledge and medical innovation by connecting experts from world renowned, medical institutions who are leaders in each field, namely:
- Cedars-Sinai Medical Center, Oregon Health and Science University (OHSU), MD Anderson Cancer Center, Le Bonheur Children's Hospital, Cleveland Clinic, U.S.A.
- James Cook University, Australia
- University College London (UCL) Medical School, United Kingdom
- China Medical University (CMU), Taiwan
In terms of investments and business expansion, the BDMS Group officially opened the “Paolo Hospital Kaset” and “Bangkok Hospital Surat”. The BDMS Wellness Clinic is another project which will meet the needs of the lifestyle of new age society. The Clinic focuses on preventive medicine and longevity. The Regenerative Clinic is now open and other clinics will follow in early 2018, namely, the Musculoskeletal & Sports Clinic, the Neuroscience Clinic, the Cardioscience Clinic, the Dental Clinic, the Breast Clinic and the Digestive Wellness Clinic, using modern technology and a team of world renowned experts in providing medical care.
In terms of financials, the operating results of BDMS in 2017 was still impacted by many Thai economic factors despite the government’s policy on infrastructure investments to stimulate the economic recovery. The Company continues with the policy to manage capital and decrease costs from last year. With the cooperation and benefits of a strong network, the 45th year of BDMS has been another year when we have been able overcome the obstacles. Overall, the Company showed around 6% growth and has been able to maintain the credit rating of “AA-” Stable from TRIS Rating Company Limited (TRIS).
Concerning corporate governance, the Company has reviewed the good corporate governance policy to ensure that it is updated and appropriate. The policy will be the guidelines for creating sustainable value in line with investor and stakeholder expectations, as well as support continuous innovations. In 2017, Bangkok Hospital received three awards from Thailand ICT Excellence Awards 2017 organized by the Thailand Management Association (TMA), namely, Excellence in Core Process Improvement Project, Excellence in Innovation Project for Health Passport and Distinguished in Business Sustainability Project for connecting patient data among hospitals. In addition, the Company received “Thailand's Top Corporate Brand 2017” in the medical industry for the third consecutive year from the Faculty of Commerce and Accountancy, Chulalongkorn University, with an organizational brand worth Baht 255,714 million. The Company also received the Best IR in Sector: Healthcare from IR Magazine Awards - South East Asia 2017 organized by IR Magazine and held in Singapore. The Award is given to listed companies that standout in investor relations and are recognized by institutional investors in the ASEAN region. Moreover, the Company received the Corporate Governance Rating: CGR 2017 of Very Good CG Scoring by the Thai Institute of Directors in association with the Stock Exchange of Thailand and the Office of the Securities and Exchange Commission.
Through 45 years of operations, BDMS has conducted our business with social and environmental responsibility. We have recognized the importance of quality of life and continue to develop the quality of life of the community and society by supporting charitable projects like the Green Health Care & Share and Vejdusit Foundation. In the past year, the Company has organized various socially responsible activities in medicine and public health for the disadvantaged and indigent patients. We have prepared the Sustainability Report to provide a record of such socially responsible activities, as we believe that all forms of “giving” are of value to Thai society.
On behalf of Bangkok Dusit Medical Services Public Company Limited, I am proud that our organization has grown strong, with a reputation that is internationally recognized. Such growth could not have come about without the support of our shareholders, patrons, doctors, nurses, management and all personnel of the Company and subsidiaries. The growth of BDMS from the cooperation of all involved, is not only a success for the organization, but is also a driver of the Thai medical industry to grow and stand proudly on the world stage.
Mr. Prasert Prasarttong-Osoth, M.D.
Chief Executive Officer & President