Aug 23, 2015

YTD Healthcare

Google Finance

Bloomberg

For the only 2 markets I am interested in; Thai and Singapore, above is how the healthcare players fared YTD. Off the top of my head I recall the largest player in the region by market value to be IHH and annual sales to be Ramsay from Australia. For the SET, foreign investors net sold THB 72 bn while local institutions and retail made up about THB 82 bn in net buys.

BH is an absolute juggernaut and prices reflect that statement clearly. Justified or not, BH grinds out solid numbers predictably and if we recall past events of crises such as the last coup in 2014, BH actually had their highest ever numbers for international patient volumes (619K in 2014, 526K in 2013). You can thus infer the importance of medical tourism to the combined tourism industry for Thailand.

Traditionally, 60% of BH's revenue comes from international patients, with the top 3 being Myanmar, UAE and Oman.

Here are more nuggets courtesy of BH;



2 comments:

  1. Hi CP,

    Seeing how you put it this way, seems like RMG is not over valued and still a good buy! hmmm....

    ReplyDelete
  2. Jes I never said that! I am only a BH supporter, and no idea where local healthcare is headed. My opinion is not all healthcare players are made equally so it is case by case.

    Maybe on your next trip to BKK you can do a field visit to BH in town just for the novelty of it.

    ReplyDelete

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