IMH Plants Flag in Medical Tourism, Opens New Hospital in Heart of Silom
IMH is opening a specialty hospital and cancer center in Bangkok's Silom district by early 2027, targeting Russian and other international medical tourists with projected annual revenue of 480 million baht.
InterMedical Care and Lab (IMH) is advancing its medical tourism business strategy with plans to open "IMH SILOM International Hospital," a large specialty hospital and cancer center in the Silom-Sathorn business district designed to accommodate foreign patients, especially those from Russia, with a revenue target of 1.5 billion baht by 2027.
On May 19, 2025, Sittiwat Kamkadwong, CEO of IMH Public Company Limited, announced that the company's board of directors has approved investment in the new hospital. "IMH SILOM International Hospital" will be a large specialty hospital serving international patients with a dedicated cancer center, located in the heart of the CBD (Central Business District). The company has signed a 30-year lease for the Piyamit Building, a seven-story structure with two basement levels, totaling over 6,230 square meters of usable space. The hospital is expected to open fully in early 2027 and generate average annual revenue of 480 million baht.
IMH SILOM International Hospital aligns with the company's strategic plan to establish itself as a healthcare leader serving foreign patients, particularly from BRICS emerging market nations including Russia, China, India, Saudi Arabia, and the United Arab Emirates.
"In early May, IMH Silom officially opened the IMH Phuket Representative Office at the BRICS Phuket office as part of our collaboration with BRICS THAILAND as their Official Healthcare Partner," said Sittiwat. "We aim to become the leading provider for Russian medical tourists in Thailand."
Beyond having highly experienced physicians and modern medical equipment, IMH benefits from its prime Silom-Sathorn location near Chao Phraya River attractions, close to Shangri-La and Mandarin Oriental hotels, and adjacent to ICONSIAM, the major Asian shopping destination. These factors will attract Russian patients to use the hospital's services continuously.
Regarding Q1 2025 performance, Sittiwat reported that the company returned to profitability with 28.3 million baht in net earnings, attributed to strategic reorganization targeting foreign patients seeking medical treatment and healthcare services in Thailand (medical tourism).
Additionally, the board approved the distribution of IMH-W2 warrants to existing shareholders at a ratio of 2 old shares to 1 warrant unit, with an exercise price of 6 baht. The record date and warrant issuance will be set after IMH-W1 expires on June 30, 2025.
