PTT plans new hospital and wellness centre in Rayong to bolster Thailand’s healthcare sector
Nikhil Prasad Fact checked by:Thailand Medical News Team Sep 08, 2024 2 months, 2 weeks, 17 hours, 35 minutes ago
Thailand Hospital News: IRPC Plc, the petrochemical arm of Thailand's oil and gas giant PTT Plc, is making significant strides in its venture into the healthcare sector. The company, traditionally known for its work in petrochemicals, has shifted its focus to a joint study with Bangkok Piyavate Group to construct a new hospital in Rayong. This hospital will cater to workers in the Eastern Economic Corridor (EEC) and the growing elderly population. The study, which started in October 2023, is expected to conclude by the end of the year.
https://www.irpc.co.th/wp-content/uploads/2021/06/IRPC-One-2023_EN_low_Final_24.03.08.pdf
PTT plans new hospital and wellness centre in Rayong to bolster Thailand’s healthcare sector
Image Credit - PTT Plc
A Partnership to Improve Healthcare Access
In collaboration with the Bangkok Piyavate Group, which operates several renowned hospitals including Piyavate and Bangpakok hospitals, IRPC is expanding its footprint into healthcare services. This move aligns with a broader trend of companies branching out from their traditional sectors to invest in industries with long-term growth potential, such as healthcare. The project envisions not just a hospital but a comprehensive wellness center designed to meet the needs of workers and retirees alike.
The partnership is focused on establishing a high-quality medical facility that will provide services in line with international standards. Athita Anantaturakarn, senior vice-president for finance and investor relations at IRPC told media and
Thailand Hospital News journalists that the study is progressing well, though further details about the scope and timeline of the construction have not been disclosed. The hospital aims to strengthen healthcare access for communities in and around Bangkok and the EEC.
Supporting the Eastern Economic Corridor
The new healthcare initiative will be located within Thailand’s Eastern Economic Corridor, an area that spans parts of Chon Buri, Rayong, and Chachoengsao provinces. The EEC is a major government initiative aimed at transforming these provinces into a high-tech industrial hub. It focuses on advanced industries such as robotics, aviation, and biofuels.
As the EEC continues to grow, the demand for healthcare services will naturally increase. Workers employed in the region's industrial sectors will need access to quality healthcare, and the growing elderly population will require specialized medical care and wellness services. IRPC’s planned hospital and wellness center are strategically positioned to meet these emerging needs.
Aligning with Thailand’s Medical and Wellness Hub Vision
This venture also supports the Thai government's broader visio
n of making Thailand a global medical and wellness hub. Under the "Ignite Thailand" initiative, the government has outlined eight key areas to boost economic growth. One of these areas is the integration of healthcare services with tourism. This initiative is designed to attract international patients and tourists, while also improving healthcare options for local residents.
The IRPC hospital will contribute to this goal by offering wellness programs that align with global standards, thereby attracting both domestic and international clients. It will also create synergies with other industries in the region, helping to boost the local economy. The hospital's wellness center, in particular, is expected to be a draw for those seeking preventative health care and rehabilitation services, which are increasingly in demand.
A New Growth Engine for IRPC
IRPC’s decision to expand into the healthcare sector is part of its broader strategy to diversify its business. The company has identified five "growth engines" that will drive its future development. Alongside the hospital and wellness center, these include power storage, solar energy, and other innovations aimed at promoting business sustainability.
By investing in healthcare, IRPC is positioning itself to tap into one of the fastest-growing sectors in Thailand. The country's aging population, combined with increasing demand for advanced medical treatments, makes healthcare an attractive investment. With the backing of PTT and the expertise of the Bangkok Piyavate Group, IRPC is well-placed to make its mark on the industry.
Conclusion
As Thailand pushes forward with its plan to become a medical and wellness hub, IRPC’s hospital and wellness center could play a crucial role in meeting the healthcare needs of the EEC and beyond. The project aligns with both government initiatives and the broader trends of integrating healthcare with tourism, ensuring that Thailand remains at the forefront of Southeast Asia's healthcare industry.
The finalization of the study is eagerly awaited, and once completed, it will set the stage for a new era of healthcare development in the country.
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Thailand Hospital News and other healthcare initiatives, stay tuned to Thailand Medical News.
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