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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 on October 30, 1969 and is headquartered in Bangkok, Thailand.

Financial Highlights

Dec 2018 THBUSD
Gross Profit25,897.19M801.09M
Operating income10,873.02M336.34M
Income before tax10,697.20M330.90M
Net income9,191.46M284.32M
Diluted EPS0.590.01
Dividends Per Share0.320.00
Total Assets133,498.75M4,100.08M
Total liabilities60,335.52M1,853.05M
Total equity70,045.26M2,151.26M
Operating cash flow15,317.43M473.82M
Currency in THBCurrency in USD

Historical Data

 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 56,053.59M 62,834.39M 67,903.50M 71,932.50M 78,417.27M
Gross Profit 19,580.21M 20,850.01M 21,685.69M 22,972.27M 25,897.19M
Operating income 8,311.80M 9,037.19M 8,982.50M 9,469.41M 10,873.02M
Income before tax 8,275.80M 8,971.01M 9,324.20M 11,720.93M 10,697.20M
Net income 7,393.52M 8,020.71M 8,386.47M 10,215.73M 9,191.46M
EBITDA 12,028.20M 13,385.72M 13,785.72M 14,600.30M 16,221.38M
Diluted EPS 0.48 0.52 0.54 0.66 0.59
Dividends Per Share 0.23 0.26 0.29 0.36 0.32
Total Assets 93,369.65M 103,128.97M 107,014.51M 122,626.69M 133,498.75M
Total liabilities 44,957.08M 48,717.43M 49,295.19M 57,249.76M 60,335.52M
Total equity 46,194.62M 51,913.39M 55,133.03M 62,577.01M 70,045.26M
Operating cash flow 11,013.37M 13,682.53M 12,953.25M 11,447.12M 15,317.43M
 Dec 2014Dec 2015Dec 2016Dec 2017Dec 2018
Revenue 1,725.59M 1,833.36M 1,924.67M 2,119.80M 2,425.73M
Gross Profit 602.77M 608.35M 614.66M 676.97M 801.09M
Operating income 255.87M 263.68M 254.60M 279.05M 336.34M
Income before tax 254.76M 261.75M 264.28M 345.40M 330.90M
Net income 227.60M 234.02M 237.70M 301.05M 284.32M
EBITDA 370.28M 390.56M 390.74M 430.26M 501.78M
Diluted EPS 0.01 0.01 0.01 0.01 0.01
Dividends Per Share 0.00 0.00 0.00 0.01 0.00
Total Assets 2,837.98M 2,865.88M 2,988.35M 3,762.70M 4,100.08M
Total liabilities 1,366.47M 1,353.82M 1,376.55M 1,756.66M 1,853.05M
Total equity 1,404.09M 1,442.63M 1,539.57M 1,920.12M 2,151.26M
Operating cash flow 339.04M 399.22M 367.14M 337.33M 473.82M

Valuation Measures

Dec 2018
Operating margin13.86%
Profit margin11.72%

Key executives

  • Chief Executive Officer & Director: Poramaporn Prasarttong-Osoth
  • President, Chief Financial Officer & Director: Narumol Noi-Am
  • Chief Operating Officer & Director: Chairat Panthuraamphorn
  • Executive Director & COO-Medical Affairs: Chatree Duangnet
  • Secretary & Vice President: Kessara Wongsekate


  • Bangkok Airways Public Co., Ltd. (7.0%)
  • The Viriyah Insurance Public Co., Ltd. (5.9%)
  • Social Security Office of Thailand (4.0%)
  • THONGTANG ATT (1.5%)

Contact Details

Related Companies

  • Udon Pattana 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.
  • Samitivej Chon Buri Co. Ltd.
  • N Health Asia Pte Ltd.
  • Bangkok Hospital Phitsanulok Co. Ltd.
  • Paolo Memorial Hospital Phaholyothin
  • Medic Pharma Co., Ltd.
  • Royal Bangkok Healthcare Co., Ltd.
  • ANB Laboratories Co. Ltd.
  • Ratchasima Thonburi Hospital
  • Bangkok Trat Hospital Co. Ltd.
  • Thai Cougar Helicopter & Petroleum Services Co. Ltd.
  • Bangkok Hatyai Hospital Co. Ltd.
  • Udon Pattana (1994) Co. Ltd.
  • Trad Vechakij Co Ltd
  • Bangkok Rayong Hospital Co. Ltd.
  • Bangkok Phuket Hospital Co. Ltd.
  • Bangkok Pattaya Hospital Co. Ltd.
  • National Healthcare System Co Ltd
  • Wattanavej Co. Ltd.
  • Rayong Medical Group Co Ltd
  • BNH Medical Centre Co. Ltd.
  • Prasit Patana Public Co., Ltd.
  • Thonburi Medical Centre Public Co. Ltd.
  • Samitivej Public Co. Ltd.


  • Chularat Hospital PCL
  • Wattana Karnpaet PCL
Last Updated on 4 Dec, 2019

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