Bangkok Dusit Medical Services (BDMS)

36 Pages·2015·1.91 MB·English

Bangkok Dusit Medical Services (BDMS)
Investor Presentation
4Q14&2014 Results
April 2015

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Important Notice

 The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or
the solicitation of an offer or invitation to purchase or subscribe for share in Bangkok Dusit Medical Services Public Company Limited
(“BDMS” and shares in BDMS, ”shares”) in any jurisdiction nor should it or any part of it from the basis of , or be relied upon in any
connection with, any contract or commitment whatsoever.

 This presentation may include information which is forward-looking in nature. Forward-looking information involve known and unknown
risks, uncertainties and other factors which may impact on the actual outcomes, including economic conditions in the markets in which
BDMS operates and general achievement of BDMS business forecasts, which will cause the actual results, performance or achievements
of BDMS to differ, perhaps materially, from the results, performance or achievements expressed or implied in this presentation.

 This presentation has been prepared by the BDMS. The information in this presentation has not been independently verified. No
representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or
correctness of the information and opinions in this presentation. None of the BDMS or any of its agents or advisors or any of their
respective affiliates, advisors or representatives, shall have any liability ( in negligence or otherwise) for any loss howsoever arising from
any use of this presentation or its contents or otherwise arising in connection with this presentation.

 This presentation is made, furnished and distributed for information purposes only. No part of this presentation shall be relied upon
directly or indirectly for any investment decision-making or for any other purposes.

 This presentation and all other information, materials or documents provided in connection therewith, shall not, either in whole or in
part, be reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws.

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Contents

Overview

Healthcare Industry

Operational Statistics

Financial Highlights
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Overview
4
BDMS
Overview

Established on February 26, 1972

Largest private hospital operator in Thailand in terms of revenues from patient services and
market capitalization

Owns and manages 40 hospitals (with total beds* of 7,071) under 6 hospital brands:

Brand No. of Hospitals No. of Beds*

Bangkok Hospital 19 3,036

Phyathai Hospital 5 1,237
Samitivej Hospital 4 975
Paolo Memorial Hospital 3 557
BNH Hospital 1 144
Royal International
Hospital 2 121
Local Hospital 6 1,001
* Maximum number of beds according to the structure of the hospitals
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Shareholding Structure
As of 2 February 2015
% of Shareholding
1 Mr. Prasert Prasarttong-Osoth, M.D. and family 22.8%
2 Mr. Wichai Thongtang and family 14.4%
3 Bangkok Airways* 7.8%
4 The Viriyah Insurance Co., Ltd. 6.2%
5 Mr. Chirotchana Suchato, M.D. and family 2.7%
6 Ladpli family** 2.5%
7 Thai NVDR Co., Ltd. 2.3%
8 HSBC (SINGAPORE) NOMINEES PTE LTD 2.0%
9 Mr. Chuladej Yossundharakul, M.D. and family 1.9%
10 Social Security Office 1.5%
Total 64.1%
Source: Summary of the information from Thailand Securities Depository Company Limited (TSD)
* Consisted of Bangkok Airways PCL and Bangkok Airways Holding Co., Ltd
** Consisted of Miss Noppamas Ladpli, Mrs. Atinuch Malakul Na Ayudhaya and Mr. Parameth Ladpli
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Diversification of Patient Mix
Medical Sophistication
Secondary Tertiary Super Tertiary
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‘Hub-and-Spoke‘ Model
Providing a Proven Patient Referral System and Creating Efficiency Through Scale
Northern Hub
Bangkok Hospital Chiangmai
Northeastern Hub
Bangkok Hospital Ratchasima
Eastern Hub
Bangkok Hospital Pattaya
Central and Bangkok Hub
Bangkok Hospital
Samitivej Sukhumvit Hospital
Phyathai 2 Hospital
Southern Hub
Bangkok Hospital Phuket Paolo Memorial Paholyothin Hospital
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‘Hub-and-Spoke‘ Model
Effective hub and spoke model within each hospital group or region
Strong patient referral system
Clinics / Medical 1 within and across each hub
Diagnostics Spoke and spoke
Referral
patients
Doctors
Enhances synergies and
Referral 2 benefits of scale among
Hub
Patients patients
hospitals within the group
(Super Tertiary / Tertiary)
Shared supporting services
among multiple hubs which
3
Nurses enhance efficiency and
Referral
competitiveness of BDMS
patients
Spoke
Medical
Spoke Referral
equipment
patients
Established system provides a
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platform for future expansion
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Successful Track Record of Expansion Through M&A and Greenfield Projects
Strong Share Price Performance Backed by a Successful Expansion Track Record
Share Price 2006 2011 2013 2015
(THB) 2005 • Increase in stake of Bangkok • Bangkok Hua Hin • Samitivej Thonburi • Muang Petch
25 • BNH Pattaya, Bangkok • Bangkok Pakchong • Bangkok Phitsanulok • Sri-Rayong
Chanthaburi and Samitivej
• Health Network (8 • Dibuk
• Wattanosoth Sriracha (became
Phyathai & Paolo
20
subsidiaries) Memorial hospitals) 40
2004 • Bangkok Ratchasima 31
37
15 • Bangkok Heart
2014
• Bangkok Samui • Bangkok Chiangmai
2007
10 • Bangkok Phuket • Royal Phnom Penh
• Royal Angkor International (Cambodia) 29 (Cambodia)
• Samitivej Sukhumvit and
Samitivej Srinakarin • Royal Rattanak (Cambodia) * • Bangkok Chinatown
5 28 • Bangkok Khon Kaen
18 2012
10 12 16 • Bangkok Udon • Sanamchan and Thepakorn
• Phuket International
0
Jan-03 Jan-04 Jan-05 Jan-06 Jan-07 Jan-08 Jan-09 Jan-10 Jan-11 Jan-12 Jan-13 Jan-14 Jan-15
Green font indicates Greenfield projects Brown font indicates acquisitions # Number of hospitals in the network post-acquisition
* Transfer of business to our new facility, Royal Phnom Penh
Solid Revenue Growth Over the Past Decade (2003-2014 CAGR of 29.5%) with Resilient EBITDA margin
Total Revenue (THB mm)
and EBITDA margin (%) 23.1% 23.4% 23.1% 22.9% 23.1% 23.2% 23.3% 21.3% 22.4% 26%
24%
20.5% 20.6%
22%
18.4% 37,371 47,862 56,975 20%
21,652 21,974 24,051 51,407 18%
18,885
15,981 16%
10,724
3,314 5,635 14%
12%
10%
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Source: Derived from BDMS’ financial statements
BDMS has developed 12 new hospitals and acquired a total of 27 hospitals to date
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