ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Health Services

Bangkok Dusit Medical Services Public Co. Ltd.

Company Background

Bangkok Dusit Medical Services is Thailand's largest private hospital operator in terms of market capitalization and patient service revenue. It has over 30 hospitals in Thailand and several in Cambodia through six brands -- Bangkok Hospital, Samitivej Hospital, BNH Hospital, Phyathai Hospital, Paolo Memorial Hospital and the Royal Hospital.


It started from one hospital in 1969, founded by billionaire Prasert Prasarttong-Osoth. Prasert expanded the group through aggressive mergers and acquisitions. The group has recently been growing by offering services to medical tourists. About 70% of its revenue are from international patients, from Japan, Europe and the U.S. The group is expanding into other services. It recently acquired the Save Drug Center chain.


Major shareholders are the founding Prasarttong-Osoth family and the Thongtang family, which owned the Phyathai Hospital that merged with Bangkok Dusit Medical Services in 2011. Also Bangkok Airways, an airline established by Prasert, has a 7% or so stake.


Prasert currently serves as chairman of the executive committee at Bangkok Dusit Medical Services. Chatree Duangnet, CEO of Bangkok Medical Center, the operator of the flagship Bangkok Hospital, manages every-day operations.


Business Summary

Bangkok Dusit Medical Services Public Co. Ltd. engages in the health care businesses. The company operates through two segments: Hospital Operations and Other Businesses. The Other Businesses segment supports hospital business including central lab, manufacturer and distributor of medicine and pharmaceutical products, assets management for healthcare business, distribution and providing service for health and cosmetic goods, accounting services, technology and information service, training business, health insurance and life insurance broker.It also invests in private hospitals and healthcare-related services, including medical and emergency services. The company was founded by Prasert Prasarttong-Osoth on October 30, 1969 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2021 THBUSD
Gross Profit24,024.38M750.38M
Operating income9,960.76M311.11M
Income before tax10,572.63M330.22M
Net income7,936.07M247.87M
Diluted EPS0.490.01
Dividends Per Share0.450.01
Total Assets128,453.61M3,845.34M
Total liabilities40,688.68M1,218.04M
Total equity83,845.19M2,509.95M
Operating cash flow14,582.51M455.47M
Currency in THBCurrency in USD

Historical Data

 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 71,932.50M 77,372.94M 82,722.64M 68,074.07M 74,451.34M
Gross Profit 22,972.27M 25,897.19M 27,429.92M 20,567.89M 24,024.38M
Operating income 9,469.41M 10,873.02M 10,999.35M 7,541.99M 9,960.76M
Income before tax 11,720.93M 10,697.20M 18,860.17M 10,127.67M 10,572.63M
Net income 10,215.73M 9,191.46M 15,517.17M 7,214.23M 7,936.07M
EBITDA 14,637.11M 16,221.38M 16,705.06M 13,953.99M 16,281.76M
Diluted EPS 0.65 0.59 0.98 0.45 0.49
Dividends Per Share 0.36 0.32 0.55 0.55 0.45
Total Assets 122,626.69M 133,498.75M 133,661.73M 136,050.25M 128,453.61M
Total liabilities 56,755.57M 60,335.52M 46,480.11M 44,587.55M 40,688.68M
Total equity 63,071.19M 70,045.26M 83,813.43M 87,910.18M 83,845.19M
Operating cash flow 11,447.12M 15,317.43M 15,096.82M 12,279.21M 14,582.51M
 Dec 2017Dec 2018Dec 2019Dec 2020Dec 2021
Revenue 2,119.80M 2,393.42M 2,664.62M 2,175.22M 2,325.42M
Gross Profit 676.97M 801.09M 883.55M 657.22M 750.38M
Operating income 279.05M 336.34M 354.30M 240.99M 311.11M
Income before tax 345.40M 330.90M 607.51M 323.61M 330.22M
Net income 301.05M 284.32M 499.83M 230.52M 247.87M
EBITDA 431.34M 501.78M 538.09M 445.88M 508.54M
Diluted EPS 0.01 0.01 0.03 0.01 0.01
Dividends Per Share 0.01 0.00 0.01 0.01 0.01
Total Assets 3,762.70M 4,100.08M 4,462.27M 4,541.06M 3,845.34M
Total liabilities 1,741.50M 1,853.05M 1,551.72M 1,488.23M 1,218.04M
Total equity 1,935.29M 2,151.26M 2,798.09M 2,934.25M 2,509.95M
Operating cash flow 337.33M 473.82M 486.29M 392.36M 455.47M

Valuation Measures

Dec 2021
Operating margin13.37%
Profit margin10.65%

Key executives

  • President, Chief Executive Officer & Director: Poramaporn Prasarttong-Osoth
  • Chief Operating Officer & Director: Chairat Panthuraamphorn
  • Chief Financial Officer, Director & Senior EVP: Narumol Noi-Am
  • Chief Medical Officer: Trin Charumilind
  • Secretary & Vice President: Kessara Wongsekate


  • Bangkok Airways Public Co., Ltd. (6.5%)
  • The Viriyah Insurance Public Co., Ltd. (5.8%)
  • Social Security Office of Thailand (3.8%)
  • THONGTANG ATT (2.1%)
  • Norges Bank Investment Management (0.5%)
  • Krungsri Asset Management Co., Ltd. (0.4%)
  • TMB Asset Management Co., Ltd. (0.3%)

Contact Details

Related Companies

  • Samitivej Chonburi Co., Ltd.
  • Bangkok Hospital Surat Co., Ltd.
  • Bio-Molecular Laboratories (Thailand) Co., Ltd.
  • Thai Medical Center Public Co., Ltd.
  • Paolo Hospital Phrapradaeng Co., Ltd.
  • Bangkok Premier Insurance Broker Co., Ltd.
  • BDMS Wellness Resort Co., Ltd.
  • BDMS Wellness Clinic Co., Ltd.
  • BDMS Property Management Co., Ltd.
  • Udon Pattana Co. Ltd.
  • Bangkok Hospital Chiangrai Co., Ltd.
  • BDMS Accounting Co., Ltd.
  • Bangkok Khon Kaen Hospital Co., Ltd.
  • Bangkok Hospital Muangraj Co., Ltd.
  • Bangkok Save Drug Co., Ltd.
  • Bangkok Phuket International Hospital Co., Ltd.
  • Bangkok Royal Healthcare Co. Ltd.
  • Bangkok Hospital Sanamchan Co., Ltd.
  • National Health Care Systems Co. Ltd.
  • Bangkok Hospital Chiangmai Co., Ltd.
  • Bangkok Udon Hospital Co., Ltd.
  • Samitivej Chon Buri Co. Ltd.
  • N Health Asia Pte Ltd.
  • Bangkok Hospital Phitsanulok Co., Ltd.
  • BDMS Training Co., Ltd.
  • Paolo Memorial Hospital Phaholyothin
  • Medic Pharma Co., Ltd.
  • Bangkok Hospital Khao Yai Co., Ltd.
  • Bangkok Ratchasima Hospital Co., Ltd.
  • Royal Bangkok Healthcare Co., Ltd.


  • Chiang Mai Ram Medical Business Public Co. Ltd.
  • Chularat Hospital PCL
  • Srivichaivejvivat Public Co. Ltd.
  • Wattana Karnpaet PCL
Last Updated on 4 Oct, 2022

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more