HEALTHCARE LANDSCAPE: The level of healthcare infrastructure in Thailand is relatively better, but considerable regional disparities remain of concern. Bangkok accounts for just 9{3163b34706130b4e1cf64e8c1b910e982a843cab25723611cf66e26b48765851} of the population but has 20{3163b34706130b4e1cf64e8c1b910e982a843cab25723611cf66e26b48765851} of hospital beds and 25{3163b34706130b4e1cf64e8c1b910e982a843cab25723611cf66e26b48765851} of physicians in Thailand

INVESTMENT CLIMATE: Demand for private healthcare in Thailand continues to grow from both domestic and international patients. As such, hospital groups are expanding clinical offerings and infrastructure capacity organically and inorganically. Thailand probably offers the most opportunities in healthcare delivery in Southeast Asia

CHALLENGES: Ensuring an equilibrium in price and quality offering is key to a hospital’s success due to the intense competition. A separate challenge is the low cost of debt funding in Thailand. This makes our proactive value add initiatives to our portfolio companies even more important as a key differentiating factor to other forms of capital and investors