Thai hospital operator BDMS makes $3b buyout offer for Bumrungrad

Photo by Olga Kononenko on unsplash

Thailand’s largest hospital operator Bangkok Dusit Medical Services Pcl (BDMS) said on Thursday it planned to make an offer worth up to 102 billion baht ($3.2 billion) for the shares in Bumrungrad Hospital it does not already own.

BDMS, which has a 25% stake in Bumrungrad Hospital (BH), said it would make a tender offer for the remaining BH shares at between 125 baht and 150 baht each, valuing its offer at between 85.6 billion baht and 102.7 billion baht.

The unsolicited offer is in line with BDMS’s policy of investing in Thailand’s healthcare sector and growing demand for healthcare services from neighboring countries, it said.

The plan, which is subject to BDMS shareholder and antitrust approvals, sent shares in both BDMS and BH higher. They closed up nearly 6% and 16%, respectively.

BH said in a statement it had no prior knowledge and was “surprised” by the offer. It said the plan should be examined by Thailand’s antitrust regulator, the Trade Competition Commission, in the interest of customers.

BDMS has 45 hospitals across Thailand, while international patients accounted for 30% of its revenue in 2019.

BH operates a hospital and three clinics in Bangkok.

Reuters

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.