The Company has been well aware of the need to create sustainable growth in the midst of challenges both domestically and internationally, whether they be the economic slowdown or increased competition in the industry. Thus, we have reviewed our strategies as well as revised our processes so that the Company may continue to grow under good corporate governance while keeping in mind our social and environmental responsibilities. The ultimate goal is to provide suitable returns to our shareholders and stakeholders, while improving the quality of our medical services in order to propel the Thai medical industry to the global stage, which is in line with the government’s Thailand 4.0 Policy.
The official introduction of the ASEAN Economic Community, greater attention to personal health, the advent of ageing society, and the increase in foreign patients who come for medical care and medical tourism, have all been contributing factors to the increased demand for state-of-the-art medical services and technology. Therefore, the Company has revised our strategies to differentiate ourselves with an emphasis on vertical growth. The aim is to elevate the efficiency of our strong medical services so that hospitals within the BDMS Group will become a Center of Excellence Network (CoE). Thus, we have invested in the development of 9 hospitals, namely, Bangkok Hospital, Samitivej Sukhumvit Hospital, Samitivej Srinakarin Hospital, Phyathai 2 Hospital, Bangkok Hospital Pattaya, Bangkok Hospital Phuket, Bangkok Hospital Chiang Mai, Bangkok Hospital Udon and Royal Phnom Penh Hospital, so that they are capable of providing treatment of complex diseases that meet the international quality standards.
Furthermore, we have formed alliances and collaborated with several world leading medical institutions in order to elevate the standards of the BDMS Group medical services to meet those of international standards and to become a Center of Excellence Network (CoE). In 2016, the Company continued our collaboration with leading medical institutions such as The University of Texas MD Anderson Cancer Center (MDACC) to elevate cancer treatment at Wattanosoth Hospital and Samitivej Children’s Hospital; Hannover Medical School to increase capabilities in treating trauma patients; Missouri Orthopaedic Institute to exchange knowledge and medical skills in orthopaedics and spine; Neurosurgical Institute at Cedars-Sinai Medical Center a collaboration with Dr. Keith L. Black, a world renown neurosurgeon and Director of the Maxine Dunitz Neurosurgical Institute at Cedars-Sinai Medical Center in the United States, in research and development in treating diseases of the brain and nervous system; and Oregon Health & Science University (OHSU) to exchange knowledge and support in all fields, especially, Occupational Health, Health Infomatics, Rehabilitation and Heart/Cardiovascular Disease.
In 2016, the Company also invested in the Mayo Hospital and the transaction is expected to be completed by January 2017. The hospital will be renovated and renamed “Paolo Hospital Kaset” and will become the 44th hospital in the BDMS network. Moreover, as a response to the rising trends of personal healthcare and ageing society, the Company has invested in the BDMS Wellness Clinic project by purchasing the land and buildings known as Nai Lert Park Hotel. The project shall be the first to provide comprehensive medical services with the aim of longevity and prevention of critical diseases. Patrons can be confident that should they require medical treatment, they will receive the best care by physicians within our Group, including reputable and expert physicians from abroad who are collaborating with the Company.
In terms of financials, the Company’s operating results in 2016 continue to reflect our operational capabilities and financial strength. Even though BDMS showed growth not so much as the economy continued to be sluggish, the Company has been able to maintain the credit rating of “AA-“ Stable from TRIS Rating Company Limited (TRIS) for the third consecutive year.
Concerning corporate governance, BDMS adheres to good corporate governance practices, transparency and virtue in order that the Company may grow with sustainability. We focus on conveying good corporate governance practices throughout the organization and have designed a curriculum entitled “Ethical Leadership Program” for management within the BDMS network. The program’s goal is to create awareness of management’s role in preventing corruption and fraud. We also conduct assessment of management and employee awareness of the four main policies, namely, the Fraud Prevention and Anti-Corruption Policy, the Policy and Guidelines on Human Rights, the Supervision of Inside Information Usage Policy and the Policy on Non-Infringement of intellectual Property Rights and Copyrights. Thus, in 2016, the Company received the “Thailand's Top Corporate Brand 2016” in medicine for the second consecutive year from the Faculty of Commerce and Accounting, Chulalongkorn University in conjunction with the Stock Exchange of Thailand with brand value of Baht 192,677 million. Making us the fourth highest brand value out of 17 sectors in 8 industries listed on the Stock Exchange of Thailand. Moreover, the Company received Corporate Governance Rating (CGR) from the Thai Institute of Directors (IOD) in association with the Stock Exchange of Thailand and the Office of the Securities and Exchange Commission of “Very Good CG Scoring” for the second consecutive year. We also received a score of 100% on the quality of our 2016 Annual Shareholders’ Meeting. In addition, the Company is extremely proud to have received an international award, “The Best Manage Company Award for Thailand 2016 – Large Capitalization” from Asia Money magazine. This award was based on the results of a poll conducted with investors and analysts from around the world. Accordingly, BDMS will strive to continue to improve management and good corporate governance practices.
With regards to social and environmental responsibility, the Co mpany has continued various projects and activities. In energy conservation and efficient use of resources, we encourage every hospital in the network to be environmentally responsible. Newly constructed hospitals are specifically built as energy saving buildings. As for social responsibility, we encourage public charity through the Green Health Care & Share Project and the Vejdusit Foundation; creative activities in the surrounding communities by employee volunteers; and awareness of safety and occupational health. In the past year, the Company has organized socially responsible activities in medicine and public health in many forms. We have prepared the Sustainability Report to provide a record of such socially responsible activities, thus showcasing the Company’s determination to grow along side Thai society.
On behalf of Bangkok Dusit Medical Services Public Company Limited, I would like to express my sincere gratitude to our shareholders and patrons who have entrusted and continuously supported our company. I would also like to thank management, doctors, nurses, and all personnel for their dedication, diligence and accountability, have been integral to the development of BDMS into the sustainably strong, stable and continuously growing organization that it is today.
Mr. Prasert Prasarttong-Osoth, M.D.
Chief Executive Officer & President