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RATCH-PRINC co-invests 463 MB in PRINC Hospital Sakon Nakhon, collaboration for extending healthcare business in secondary cities scheduled to open in February 2023

Nonthaburi – RATCH Group Public Company Limited (RATCH) and Principal Healthcare Company Limited (PRINH), a subsidiary of Principal Capital Public Company Limited (PRINC), jointly inject THB 463 million into PRINC Hospital Sakon Nakhon. On 28 March 2022, both entities entered into the Shareholder Agreement to collectively invest and establish Principal Healthcare-Sakon Nakhon Company Limited, with THB 300 million registered capital, of which RATCH, PRINH and a local partner held 25%, 70% and 5% of total shares respectively.

The joint venture company is responsible for developing and building the 59-bed private secondary care hospital on 14-rai area located in That-Na-Weng Subdistrict, Mueang District, Sakon Nakhon Province. Key elements of the hospital comprise of hospital’s buildings, examination rooms, patient rooms, as well as advanced medical equipment including CT scanners, X-ray machines, mammogram machines, IT system and network for supporting digital medical service platform. PRINC Hospital Sakon Nakhon will be commenced service in February 2023, and targets not only Thais, but also foreigners particularly in Lao PDR connected border with Nakhon Phanom and Mukdahan Provinces, which are targeted to be the hospital service areas.

Ms. Choosri Kietkajornkul, Chief Executive Officer of RATCH Group Public Company Limited said that RATCH has directed its business growth by provisioning 20% of capital for non-power investment within 2025. This year, the company has set aside THB 2 billion budget for non-power investment including THB 75 million equity acquisition in PRINC Hospital Sakon Nakhon. This is a further step forward in continuing collaboration with PRINH, the company’s business partner specialized in healthcare service and private hospital management, and had strong determination in developing medical technology solutions for expanding opportunity for Thai people to access healthcare services.

“RATCH’s investment plan covers private hospital business due to trend of constant growth enabling to create more enterprise values and other investment potential in its value chain. More importantly, RATCH is confident in the partnership with PRINH by synergizing expertise of each to drive business growth successfully. Both parties also similarly embrace sustainable development in guiding business operations, and intends to use more renewable energy with an aim to reduce greenhouse gas emissions and enhance environmentally friendly process,” Ms. Choosri said.

Mr. Tanee Maneenut, Chief Executive Officer and Chief Operating Officer, Principal Capital Public Company Limited said that the collaboration with RATCH in the joint venture of PRINC Hospital Sakon Nakhon following PRINC’s equity acquisition not only fosters synergy for extending healthcare business in secondary cities, but also creating sustainable growth for community and society according to PRINC’s manifesto on spirit of giving. The co-investment is followed our business expansion plan with an aim to 20 hospitals in 2023 increasing from 12 hospitals in 10 provinces currently.

“In the early stage, PRINC Hospital Sakon Nakhon will provide services of internal medicine, obstetrics, surgeons, pediatrics, and accident and emergency. Those are necessary for local residences to access comprehensive and standard healthcare service. It is expected to operate in 2023 and will be served for Universal Health Coverage Scheme in 2025,” Mr. Tanee added.

PRINC Hospital Sakon Nakhon is the first private secondary care hospital in Mueang District, Sakon Nakhon Province where currently has only one public tertiary care hospital. It will expectedly provide an alternative and an opportunity of access to quality and standard of healthcare for Sakon Nakhon’s people and nearby provinces.

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