BANGKOK -- Bangkok Dusit Medical Services, Thailand's largest private hospital operator, plans to buy land and buildings in central Bangkok, including a building now housing a Swissotel brand hotel, to develop a medical center focused on anti-aging and other types of holistic health care.
The company estimates the project will cost 12.8 billion baht ($371 million), with 10.8 billion baht earmarked for the purchase of a 24,000 square-meter plot and the three buildings on it. The remaining 2 billion baht will be spent on what BDMS calls the first holistic health care center in Asia.
The facility, the BDMS Wellness Clinic, will offer comprehensive medical exams and personalized treatment programs related to anti-aging. It will also provide neurological health services, such as treatment for Alzheimer's and Parkinson's diseases. Services provided at other BDMS hospitals may also be offered at the new clinic.
BDMS hopes to "capture the business opportunities created by increasing demand in preventive medicine, longevity and anti-aging," the company said in a filing submitted to the Thai stock exchange. "We believe that it will help enhance our reputation and brand recognition globally," it said.
The purchase is expected to be completed by the second quarter of 2017.
Early next year, Nai Lert Park Hotel Company, the current owner of the land and buildings, will close the Swissotel Park Nai Lert, a luxury hotel that sits on an 3.2-hectare garden. The hotel was built in the early 1980s as a Hilton hotel and came under the management of Swissotel in 2004.
In a notice to employees, the hotel's managing director said competition in Bangkok is intensifying. "Today the hotel industry faces a very highly competitive environment. New hotels open on every street corner," wrote Naphaporn Bodiratnangkura. "All the executives have been enduring and working hard to sustain the survival of the hotel, but in the end there comes a time of change for everything, and this time it will be a big change."