Bangkok--Nov 18--Ogilvy Public Relations
The Securities and Exchange Commission (SEC) has given green light to the Bangkok Dusit Medical Services Plc (BGH), the operator of Bangkok
Hospital Group, to make a voluntary tender offer for outstanding shares of Samitivej Plc. (SVH) in a plan to enhance the group’s competitiveness and expansion of its health and medical service network.
The transaction is a part of a shareholding restructuring plan where hospitals in the BGH’s network are integrated. The network to be
integrated includes three companies namely Samitivej, Bangkok Had Yai Hospital Co., Ltd., and Bangkok Phuket Hospital Co., Ltd.
Dr. Pongsak Viddayakorn, President of BGH, said that the plan is implemented after the shareholders meeting already approved the tender offer plan. Under the tender offer, BGH will offer 126,500,000 ordinary shares of 1 baht par value to the shareholders of the three companies.
The plan was approved by subcommittee on merger and acquisition on July 13, 2004, and by the SEC on November 8.
Apart from benefits to the business, the transaction will increase benefits to shareholders who will be eligible for BGH’s dividend payment. In the past four years, BGH has made satisfactory profit and its dividend payment has been incremental. In 2003, BGH paid Bt4 dividend per share. In 2004, its total income is expected to be higher due to the integration
of three new subsidiaries — Bangkok Trad Hospital Co., Ltd., Bangkok Had Yai Hospital Co., Ltd., Bangkok Samui Hospital Co., Ltd. and Bangkok Phuket Hospital Co., Ltd.
Another reason strengthening BGH’s financial performance is the increasing income from additional specialized medical services, resulting in increasing number of patients and income. Such services, which require high technologies, are Multi-Slide CT Coronary Angiogram, brain surgery
in Parkinson’s patient (Navigator), Sypher Stents and Mobile CCU.
“The business integration plan will provide BGH with greater synergy and improved efficiency in procurement process, thus effectively lowering direct cost. This will contribute to stronger profitability for the whole
network,” said Dr. Pongsak.
The swap ratios are 2 BGH’s new ordinary shares per one SVH share, one BGH’s new ordinary share per 1.48 ordinary share of Bangkok Phuket
Hospital, and one BGH’s new ordinary share per 1.66 ordinary share of Bangkok Hat Yai Hospital.
The offering period lasts for 25 business days from November 10 — December 16, between 09.30-16.30 hrs. The offer is available at Trinity
Securities Co., Ltd., 25th floor, Bangkok City Tower, South Sathorn Road.
Bangkok Dusit Medical Services Public Company Limited is the owner and operator of Bangkok Hospital, which has been providing comprehensive medical services to Thai and foreign customers since 1972. The hospital has been awarded the ISO 9002, ISO 9001: 2000, Hospital Accreditation(HA) from the Ministry of Public Health, ISO 14001 for excellent environment management system and the 18001/OHSAS14001 for its health and safety standard. The company has invested in 13 leading private hospitals nationwide. The hospital has been selected by the Medical Association of Thailand to provide Continuing Medical Education (CME) to medical practitioners.
Issued on behalf of : Bangkok Dusit Medical Services Plc. and
Samitivej Plc.
For further information: Kovit Savangvareesakul
([email protected])
Ruanrudee Taweepol
([email protected])
Ogilvy Public Relations Worldwide Ltd.
Tel. 0 2632 8300-7 End.