Techno Medical Public Company Limited (“TM”) is entering the elderly market (Aging Society) with plans to open “The Parents Nursing Home” (Phase One) in the fourth quarter of 2022. The company aims to establish the brand “THE PARENTS” as a comprehensive hub for elderly care services in the eastern Bangkok region, operating under three businesses: The Parents Nursing Care School, The Parents Nursing Home, and The Parents Hospital. Commercial operations are set to begin in early 2024, with expected annual revenue of 100-150 million baht, while TM anticipates income based on its 80% share of total revenue.

Ms. Suntharee Jarnlongbut, Chief Executive Officer of Techno Medical Public Company Limited (“TM”), announced that The Parents Nursing Home will begin operations in Q4 2022 under the “The Parents” brand.

This initial phase aligns with the push for Thailand to transition into an aging society, where over 12 million people, or 20% of the population, are aged 60 and above. It is acknowledged that approximately 800,000 to 900,000 individuals in this age group are dependent on assistance due to their inability to care for themselves. Therefore, the establishment of a nursing home effectively meets the needs of this demographic.

The “The Parents” business group includes “The Parents Nursing Care School,” which aims to train quality personnel for hospitals and elderly care centers, as well as provide trained staff to assist the elderly in their homes. Meanwhile, “The Parents Nursing Home” will feature 120 beds, including single and VIP rooms, focusing on promoting health and rehabilitation for the elderly in all physical conditions. Additionally, “The Parents Hospital” will accommodate 28-30 elderly patients, emphasizing rehabilitation medicine for stroke and paralysis patients of all ages, incorporating both traditional Thai and Chinese medicine, dialysis units, hydrotherapy, sports rehabilitation, postpartum care, and office syndrome treatments.

The CEO of “TM” further stated that THE PARENTS will be fully operational and commercially active, including both the Nursing Home and Rehabilitation Hospital buildings (under The Parents Hospital), by early 2024. If completed as planned, THE PARENTS will become a regional hub for comprehensive elderly care services in the eastern Bangkok area, continuously accommodating both Thai and foreign patients, as the facility meets ISO standards. THE PARENTS is located on a 4-rai plot in Soi Ratphattana 2 (Soi Mistin), with future plans to expand elderly care services throughout all four corners of Bangkok.

Starting in 2024, “TM” will gradually begin recognizing revenue from THE PARENTS project, averaging 100-150 million baht annually based on its 80% ownership stake, with the remaining 20% held by a group of doctors. The revenue share that “TM” will receive from this project will lead to recurring income starting in 2024, reducing reliance on current business revenues. Thus, from 2024 onwards, “TM” will enter a golden era, significantly enhancing the company’s value with a substantial increase in growth rates.