Buying hospital stocks in 2025: 7 key tips to consider

Why Healthcare Stocks Are a Reliable Shelter

When it comes to safe investments with consistent returns, hospital stocks are the real deal. This is not by chance but for genuine reasons.

First, the healthcare business has unchanging demand. Whether the economy is booming or in downturn, people still get sick, need treatment, and utilize medical services. This contrasts with other industries that face problems during economic slowdowns.

Second, hospital stock prices tend not to fluctuate wildly. They are Defensive Stocks that investors prefer to hold during uncertain markets because they are more stable than other stocks.

Third, hospitals are businesses that require a one-time investment, but cash flow continues to flow in steadily, with no days off. Once you complete building the facility and purchasing equipment, you can recover your investment quickly, and thereafter, enjoy pure profit.

What is the Market Outlook for Healthcare Stocks in 2025?

This year, Thai hospital stocks are not lagging behind. Despite market volatility, many companies still show impressive performance.

One reason is that the Thai population is rapidly aging. The number of chronic patients requiring medical tourism is increasing, along with the emergence of new diseases, raising the demand for high-level medical services.

Additionally, hospitals have improved their digital platforms, online management, and customer service, making it easier to increase revenue than before.

Let’s look at 7 hospitals to watch in 2025

The real standout is BH - a profit-making leader

BH, or Bumrungrad Hospital, is an interesting stock because its ROE reaches 31.91%, indicating highly efficient use of capital.

Since 1984, BH has not only been a profit-oriented stock but also a major service provider for social security. Besides general patients, (66.52% of revenue) comes from social security patients, with (32.63%).

📊 Key Data:

• Market Cap: 139,110.29 million Baht
• Latest profit: 5,871.77 million Baht
• Current price: 183 Baht
• P/E: 18.34 times

BH is currently expanding its service areas and restructuring prices for more complex diseases to accommodate the increasing number of international patients seeking treatment in Thailand.

BDMS - The Diversified Revenue Powerhouse

BDMS, or Bangkok Dusit Medical Services, is expanding across Asia, with hospitals and medical centers in Mongolia, Myanmar, and other countries.

What’s interesting about BDMS is that 67% of its revenue comes from foreign patients, making it highly sensitive to travel and medical tourism trends.

📊 Key Data:

• Market Cap: 355,980.84 million Baht (largest)
• Profit: 11,654.41 million Baht
• Current price: 23.30 Baht
• P/E: 22.81 times
• ROE: 16.77%

BDMS plans to increase bed capacity, open specialized centers, and expand its foreign customer base, which is expected to drive long-term growth.

( BCH - The Domestic Growth Winner

BCH, or Bangkok Chain Hospital, founded in 1969, is one of the leading hospital groups with 15 hospitals across Thailand and Laos.

What sets BCH apart is that 71% of its revenue comes from domestic patients, demonstrating a strong local market presence.

Krungsri Securities analysts have upgraded BCH to a “Buy” from “Hold,” expecting net profit to grow by 23% in 2025.

📊 Key Data:

• Market Cap: 34,164.35 million Baht
• Profit: 1,049.33 million Baht
• Price: 14.40 Baht
• P/E: 23.13 times

) CHG - Small but Promising

CHG, or Chularat Hospital, is a smaller company but strengthening its position with 12 subsidiaries and 15 branches.

Its P/E ratio is 20.32, which is not expensive compared to others, indicating that its profits are justified by the stock price.

📊 Key Data:

• Market Cap: 23,320.00 million Baht
• Profit: 873.63 million Baht
• Price: 2.24 Baht ###the lowest in the group(
• ROE: 15.42%

CHG is expanding its patient beds and aligning with market demands in growing economic areas.

) PR9 - The Expert in Wellness

PR9, or Praram 9 Hospital, aims to be a modern health care hub with policies to develop digital platforms like “9 CARE” to connect more patients.

PR9’s clients come from nine countries, not just Thailand. Most revenue comes from outpatient services, ###59%(, mainly from initial check-ups.

📊 Key Data:

• Market Cap: 16,984.08 million Baht
• Profit: 506.11 million Baht
• Price: 21.30 Baht
• P/E: 24.47 times

) VIBHA - For Cautious Investors

VIBHA, or Vibhavadi Hospital, serves Thai people across its three branches in (Bangkok, provinces, and abroad), with a total of 1,722 beds.

Yuan Ta analysts recommend a “Buy” at a target price of 2.74 Baht. However, VIBHA’s ROE is only 8.49%, lower than its peers.

📊 Key Data:

• Market Cap: 24,572.58 million Baht
• Profit: 778.31 million Baht
• Price: 1.88 Baht
• P/E: 23.85 times

THG - Caution for Investors

THG, or Thonburi Healthcare Group, faces significant challenges currently, with a negative ROE of -6.91% and net loss of (-302.98 million Baht).

Investors should be cautious with this stock until the company shows signs of recovery.

How to Choose Hospital Stocks Suitable for You

( Step 1: Categorize by Customer Type

Thai hospitals are mainly divided into two groups:

Foreign-focused: BH, BDMS, BCH generate substantial revenue from medical tourism, so monitor the economic conditions of their main source countries )Europe, Arab countries, China###.

Domestic-focused: CHG, PR9, VIBHA, THG prioritize serving Thai people. They may also have specialized expertise.

( Step 2: Read the Numbers Correctly

P/E Ratio indicates whether a stock is expensive or cheap. A low P/E )16-18( suggests good value, while a high P/E )24+### may carry risk of price correction.

ROE shows how well the company uses shareholders’ capital. ROE above 25%( indicates good profit efficiency, while ROE low )8-10%( or negative warrants caution.

Market Cap reflects company size. Larger companies tend to be more stable but grow slower. Smaller firms may grow faster but with higher risk.

) Step 3: Observe Growth Strategies

• Mergers & Acquisitions: Hospitals buying other hospital stocks to grow quickly.
• Branch Expansion: Building new branches in strategic areas ###may take time but is stable(.
• Specialization: Focusing on a particular niche, e.g., medical tourism ).

Step 4: Keep Up with News

Investing in hospital stocks requires constant monitoring of news such as:

• Changes in social security policies
• Patient inflow at each station
• New expansion plans
• Management changes

Who Should Invest in Hospital Stocks

🎯 Long-term investors seeking cash flow from dividends and steady growth.

🎯 Risk-averse investors wanting defensive stocks during uncertain markets.

🎯 Knowledgeable investors who understand healthcare and economic data analysis.

Summary

In 2025, there are 7 standout Thai hospital stocks mentioned here. Each has its own strengths. If you want to buy hospital stocks with high and safe returns, consider BH for its high ROE or BDMS for its international expansion.

However, before making decisions, do further research, follow analyst reports, and consider consulting experienced stock analysts. Because investing involves risks and is not suitable for everyone.

Want a balanced portfolio? Try adding 1-2 stocks from this group for long-term stability.