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Healthcare stocks 'Overweight' due to insurance and Middle East patients

Healthcare stocks 'Overweight' due to insurance and Middle East patients

MGR Online•Economy•4d ago

Reader Briefing

Thai healthcare stocks are rated 'Overweight' by analysts, driven by new health insurance products and the resurgence of medical tourism from the Middle East.

  • •Analysts are maintaining an 'Overweight' rating on the healthcare sector due to strong fundamentals and new growth drivers.
  • •The introduction of accessible health insurance products is boosting domestic patient utilization for hospitals.
  • •A recovery in medical tourism, particularly from Middle Eastern patients, is expected to drive revenue for key hospital groups.

Overview

  • •Concerns regarding the Ebola outbreak initially provided a positive sentiment for Thai hospital stocks, though not a significant profit driver.
  • •As of May 23, 2026, there were approximately 746 suspected cases and 176 suspected deaths in the Democratic Republic of Congo and Uganda.
  • •The World Health Organization (WHO) declared the outbreak a Public Health Emergency of International Concern (PHEIC) on May 16, 2026.
  • •The Department of Disease Control (DDC) of Thailand designated the DRC and Uganda as dangerous communicable disease zones, effective May 21, 2026.
  • •Between April 29 and May 18, 126 travelers from affected countries entered Thailand, all testing negative for Ebola.
  • •Krungsri Securities believes new, accessible health insurance products will positively sentiment the hospital group by increasing patient flow into partner hospital networks and reducing Copayment concerns.
  • •The Middle East is expected to return, driving a new round of medical tourism, with GCC patients having a longer length-of-stay and complex cases, thus boosting margins.
  • •KGI Securities (Thailand) recommends 'Overweight' for the Healthcare Sector, noting that current healthcare stock prices are not expensive, trading below historical average PE by -1 to -2 S.D.

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Key Quotes

TISCO Securities
"Concerns about Ebola are likely to be a positive factor supporting confidence in Thai hospital stocks, rather than a significant profit driver in the short term."
ความกังวลเกี่ยวกับอีโบลาน่าจะเป็นเพียงปัจจัยหนุนเชิงบวกต่อความเชื่อมั่นของหุ้นโรงพยาบาลไทย มากกว่าจะเป็นปัจจัยขับเคลื่อนกำไรอย่างมีนัยสำคัญในระยะสั้น
Krungsri Securities
"The new products cover treatment for general diseases, severe illnesses, and accidents, including ICU, surgery, Day Surgery, and OPD follow-up after admission."
ผลิตภัณฑ์ใหม่ยังครอบคลุมค่ารักษาทั้งโรคทั่วไปโรคร้ายแรง และอุบัติเหตุ รวมถึงค่า ICU ค่าผ่าตัด Day Surgery และ OPD Follow-upหลังแอดมิต
KTB Securities (Thailand)
"The Middle East is returning, driving a new round of medical tourism."
ตะวันออกกลางกำลังกลับมา หนุน Medical tourism รอบใหม่
RHB Securities
"The Middle East is returning, driving a new round of medical tourism."
ตะวันออกกลางกำลังกลับมา หนุน Medical tourism รอบใหม่

Key Entities

Organization

Healthcare Group(กลุ่มการแพทย์)
The investment sector analyzed in the article, with an 'Overweight' rating.
World Health Organization(องค์การอนามัยโลก)ℹ️
The international body that declared the Ebola outbreak a Public Health Emergency of International Concern.
Department of Disease Control(กรมควบคุมโรค)
The Thai government agency implementing strict health screening for travelers.
BH
A hospital operator identified as having a high proportion of revenue from Middle Eastern patients.
BDMS
A hospital operator recommended as a top pick, benefiting from domestic patients and insurance.
PR9
A hospital operator with a 'Buy' recommendation, expected to benefit from medical tourism.
BCH
A hospital operator with a 'Recovery Buy' recommendation, focusing on domestic patients.
CHG
A hospital operator with a 'Recovery Buy' recommendation, focusing on domestic patients and government projects.
TISCO Securities(สำนักวิจัย บริษัทหลักทรัพย์ ทิสโก้ จำกัด)
A research firm that provided an 'Overweight' assessment for the healthcare sector.
Krungsri Securities(บล.กรุงศรี จำกัด (มหาชน))
A securities firm that updated its recommendation for the healthcare group to 'Constructive Bullish'.
AIAℹ️
An insurance company that launched a new health insurance product targeting young working professionals.
KrungthaiAXAℹ️
An insurance company that revised its insurance structure and launched a hospital-specific health insurance plan.
Muang Thai Life Assurance(บ.เมืองไทยประกันชีวิต)ℹ️
An insurance company that launched a new health insurance product called 'D Health Lite'.
KGI Securities (Thailand)(บล.เคจีไอ(ประเทศไทย))
A securities firm that recommends an 'Overweight' stance on the Healthcare Sector.
Tourism Authority of Thailand(การท่องเที่ยวแห่งประเทศไทย)ℹ️
The state tourism agency that provided data on the average spending of medical tourists.
RHB Securities(บล.บัวหลวง)
A brokerage firm that views the Healthcare Sector positively and identifies BH as a top pick.
GCCℹ️
A bloc of countries in the Middle East whose patients are showing recovery signs for medical tourism.

Place

Middle East(ตะวันออกกลาง)ℹ️
A region identified as a key source of returning medical tourists.
Democratic Republic of Congo(สาธารณรัฐประชาธิปไตยคองโก)ℹ️
A country identified as an origin of the Ebola outbreak and a dangerous communicable disease zone.
Uganda(ยูกันดา)ℹ️
A country identified as an origin of the Ebola outbreak and a dangerous communicable disease zone.
United States(สหรัฐ ฯ)ℹ️
A country involved in a conflict with Iran, potentially affecting Middle Eastern patient flows.
Iran(อิหร่าน)ℹ️
A country involved in a conflict with the United States, potentially affecting Middle Eastern patient flows.