Hospital History

On August 13, 1976, Dr. Boon Vanasin, together with a group of physicians, founded Thonburi Hospital Company Limited with a paid-up registered capital of 20 million baht. The hospital was established in the Thonburi area, as at that time there were no private hospitals available, and the only government hospital, Siriraj Hospital, was already overwhelmed with patients, resulting in long waiting times due to insufficient beds. The founding of Thonburi Hospital was therefore initiated to meet the demand for quality healthcare services and to accommodate the growing number of patients.

Thonburi Hospital was officially opened on May 10, 1977, located at 34/1 Issaraphap Road, Ban Chang Lo Sub-district, Bangkok Noi District, Bangkok 10700. The hospital initially operated as a 60-bed facility, providing medical services by senior physicians and specialists from Siriraj Hospital, who shared the commitment to deliver high-quality and convenient medical care to middle- to high-income patients in the Thonburi area or the western part of Bangkok.

Thonburi Hospital received excellent response and continued to grow, leading to insufficient outpatient clinics and beds for the demand in the area. Therefore, the hospital expanded its building in 1980 both vertically and horizontally, increasing its capacity to 113 beds and raising the registered capital to 60 million Baht.

The Company has been stable and committed to providing high-quality services with excellent professional standards, earning the trust of the Thonburi community.
However, the rapidly increasing demand for services led to a shortage of patient beds. Therefore, the Company expanded its service capacity by constructing a new 12-story building and opening Thonburi 2 Hospital with a registered capital of 300 million Baht.

On March 8, 1993, Thonburi 2 Hospital officially opened. The new hospital has 68 beds and is located at 43/4 Boromarajonani Road, Thawi Watthana District, Bangkok 10170.

On December 21, 1994, Thonburi Hospital Co., Ltd. was registered as a public company and changed its name to “Thonburi Hospital Public Company Limited.”

The Company began expanding its services through affiliated companies to other provinces.
Recognizing the shortage of medical personnel, the Company collaborated with Siam University to launch a Bachelor of Medicine program to produce high-quality medical professionals capable of providing standardized services and developing themselves and society.

On December 11, 1997, the Company acquired Dental Siam Co., Ltd., which operates in the distribution of dental products and pharmacy business.

Thonburi Healthcare Group Public Company Limited entered into a management agreement for Phuket Provincial Administrative Organization Hospital, the first provincial administrative organization hospital in Thailand, providing 129 beds.

Thonburi 2 Hospital officially opened its second building on June 1, 2012, to accommodate the increasing demand for medical services. Both buildings together have a total of 95 beds. In the same year, the Company signed an agreement to operate and manage Pattaya City Hospital, which has 110 beds.

On July 16, 2014, the Company established a subsidiary named Thonburi Heart Center Co., Ltd. to provide specialized cardiology medical services and management services to other hospitals by establishing new heart centers or integrating into existing heart centers in those hospitals. Thonburi Healthcare Group Public Company Limited held a 70% stake of the registered capital of 100 million Baht. Currently, the subsidiary provides heart center services to Phatra-Thonburi Hospital and Bangplee Hospital in Samut Prakan Province.

On September 22, 2014, the Company acquired additional shares in Modular Software Expertise Co., Ltd., increasing its shareholding proportion to 70% of the registered capital of 18 million Baht.

On October 20, 2014, the Company established Premier Home Healthcare Co., Ltd. to provide home healthcare services and to build standalone senior care facilities, with Thonburi Healthcare Group Public Company Limited holding 99.99% of the registered capital of 100 million Baht.

On December 15, 2014, the Company acquired 100% of Ratchathani Realty Co., Ltd., which has a registered capital of Baht 700 million, to conduct real estate business and land development for senior care service projects.

On December 24, 2014, the Company acquired Thonburi Real Estate Development Co., Ltd., in which Thonburi Healthcare Group Public Company Limited held 99.78% of the registered capital of Baht 800 million.

On December 30, 2014, the Company increased its shareholding in Ubonrak Co., Ltd. (Ubonrak Hospital) to 34.04% of the registered capital of Baht 37.5 million.

On April 2, 2015, the Company acquired shares in Rajthanee Hospital Public Company Limited, increasing its shareholding proportion to 54.23% of the registered capital of Baht 400 million.
On November 16, 2015, the Company increased its shareholding in Thonburi Heart Center Co., Ltd. to 99.98% of the registered capital of Baht 100 million.

On January 1, 2016, the Company entered into an agreement with Vigo Holding Co., Ltd. to jointly establish a joint venture under the name “Weihai Thonburi Medical Equipment Co., Ltd.” with the objective of providing hospital management services in the People’s Republic of China (“Welly Hospital”). The joint venture had a registered capital of 230 million yuan (equivalent to Baht 1,249 million), of which the Company held a 58% stake.

On February 17, 2016, Rajthanee Hospital Public Company Limited reduced its registered capital from Baht 400 million to Baht 388,271,118 by canceling the registered but unsold shares, so that the registered capital equaled the paid-up capital. This capital reduction resulted in the Company’s shareholding proportion changing from 54.23% to 55.87%.

On February 26, 2016, the joint venture registered a change of name from “Weihai Thonburi Medical Equipment Co., Ltd.” to “Weihai Thonburi Healthcare Investment Co., Ltd.”

On June 29, 2016, the Company increased its registered capital to Baht 849.08 million (paid-up capital Baht 764.08 million) to prepare for its Initial Public Offering (IPO).

On August 30, 2016, the Company acquired additional shares of Premier Home Healthcare Co., Ltd. valued at 850 million Baht, resulting in the registered and paid-up capital of Premier Home Healthcare Co., Ltd. increasing to 1,150 million Baht, while the Company’s shareholding proportion remained at 99.99%.

On April 4, 2017, the Company, together with Kamon Point Co., Ltd., Aryu Ananta Medical Services Co., Ltd., and WJ International Hospital Management Co., Ltd., established and registered a joint venture named “Aryu International Healthcare Co., Ltd.” with the objective of operating a hospital management business in the Republic of the Union of Myanmar (Aryu International Hospital).
The joint venture had a registered capital of USD 100 million (10,000,000 ordinary shares at a par value of USD 10 each). The Company held a 10% stake of the registered capital, with 50% of the capital called up.

On May 31, 2017, Rajthanee Hospital Public Company Limited increased its registered capital from Baht 388,271,118 to Baht 430,000,000.
The Company invested an additional Baht 83,421,429 in ordinary shares of Rajthanee Hospital Public Company Limited, resulting in a change of its shareholding proportion from 55.87% to 56.91%.

On June 1, 2017, the Company entered into a Consultancy and Comprehensive Study agreement for a private hospital of King Saud University in Riyadh, Saudi Arabia.
This collaboration was between Interhealth Saudi Arabia Co., Ltd. (a subsidiary of Interhealth Canada Ltd.) and the Company, to provide consultancy and general hospital management services. It was established as an initial collaboration with a project value of approximately USD 2.8 million.

On November 1, 2017, the Company acquired 99.99% of the shares in Bumrungmuang Plaza Co., Ltd. (BMP) from Power Line Engineering Public Company Limited and existing shareholders, in order to obtain the rights to lease land and buildings under the Thai Red Cross Society’s leasehold.
This acquisition was made to develop the Thonburi Rehabilitation Hospital Project (Bumrungmuang Road), envisioned as a medical center comprising outpatient departments such as Physical Therapy, Health Care and Rehabilitation, as well as inpatient rehabilitation rooms.

On November 2, 2017, the Company participated in the official opening ceremony of Welly Hospital in Weihai, People’s Republic of China, in which the Company holds a 58% shareholding.
It is recognized as the first Thai hospital to be granted a medical service license in the People’s Republic of China.

On November 5, 2017, the Company approved the capital increase in ARAU International Healthcare Co., Ltd. from 10% to 40% by purchasing shares from WJ International Hospital Management Co., Ltd. at par value. The payment for the shares is expected to be completed in the first quarter of 2018, and ARAU International Hospital is anticipated to commence operations by mid-2018.

On November 9, 2017, the joint venture registered a change of name from “Weihai Thonburi Healthcare Investment Co., Ltd.” to “Weihai Welli Hospital Co., Ltd.” The Joint Venture Board of Directors also approved an increase of registered capital by 20 million yuan, bringing the total to 250 million yuan. The Company paid its shareholding portion of 11.60 million yuan (equivalent to 58.02 million Baht).

On November 15, 2017, Thonburi Hospital celebrated its 40th anniversary as one of the leading private hospitals in the country, with a network of 19 hospitals nationwide, and held the grand opening of a new four-story outpatient building.

On December 7, 2017, the Company began trading its shares for the first time on the Stock Exchange of Thailand by offering an Initial Public Offering (IPO) of 85 million shares under the trading symbol “THG”.
The Company raised a total of 3,230 million Baht to repay bank loans and to be used as working capital.