KBank joining hands with BDMS Group to extend service network in response to healthcare spending that has grown over 10 percent

Stocks and Financial Services Press Releases Thursday October 6, 2016 11:41
Bangkok--6 Oct--KBank

To capitalize on the health-conscious trend as evidenced by healthcare spending which has surged more than 10 percent, KBank, in collaboration with Bangkok Dusit Medical Services (BDMS) has extended services under the BDMS-KBank Co-Branded Credit Card, highlighting it as a healthcare credit card with the largest network of leading hospitals in Thailand. KBank partners include five hospital groups under Bangkok Hospital, Samitivej Hospital, BNH Hospital, Phyathai Hospital and Paolo Hospital. Within five years, KBank aims to have issued 220,000 of the co-branded credit cards, with total spending of over 26 billion Baht.

Mr. Predee Daochai, KASIKORNBANK President, said that Thai people have become more health-conscious and are more often going to hospitals with state-of-the-art technology. They therefore need greater convenience when it comes to payment of medical bills at leading hospitals. To meet these needs, KBank, partnering with BDMS, has extended our services via the BDMS-KBank Co-Branded Credit Card to offer special privileges for medical treatment of five leading hospital groups, i.e., Bangkok Hospital Group, Samitivej Hospital Group, and BNH Hospital, together with two new members of our partnership, Phyathai Hospital Group and Paolo Hospital Group. Cardholders will be entitled to multiple privileges from participating hospitals such as patient rooms, medication, dental treatment, vaccinations, room upgrades, emergency ambulance service as well as KBank financial services, especially special rate of deposit, and reduced interest rates for K-Home Loan and K-Auto Finance.

Mr. Predee said that KBank and BDMS Group launched this co-branded credit card five years ago. Currently, there are more than 130,000 holders of the BDMS-KBank Co-Branded Credit Card. The latest cooperative effort aims to reinforce our business partnership with BDMS. With the nation's largest healthcare service network of BDMS, comprising 35 leading hospitals nationwide, plus more than 1,121 KBank branches, we will better access our target customers and satisfy their needs. The move will be the most comprehensive collaboration between healthcare and financial services, allowing cardholders to access quality medical services from leading hospitals under BDMS Group and superior financial services from KBank. In five years' time, KBank expects to have 220,000 BDMS-KBank Co-Branded Credit Cards in circulation, with spending greater than 26 billion Baht. Healthcare-related card spending now enjoys growth of around 10 percent each year.

Mr. Chatree Duangnet, M.D. Executive Vice President and Chief Operating officer of Bangkok Dusit Medical Services Pcl. (BDMS), notes that medical expenses and health-related spending are necessities. This collaborative effort with KBank will help lessen the expense burden of cardholders while also encouraging them to use quality medical services in alignment with BDMS's mission to provide the highest customer satisfaction via world-class healthcare services.

The broad coverage of the service network will enhance the level of medical care, including secondary and tertiary levels; complicated illnesses are also included. Aside from privileges previously received from the Bangkok Hospital Group, Samitivej Hospital Group and BNH Hospital , cardholders are now eligible to receive benefits of other hospitals under the Phyathai and Paolo Hospital groups, which have just joined this partnership. Therefore, the total of 35 participating hospitals countrywide can accommodate 25,500 outpatients and around 3,400 inpatients a day, or more than 10 million per year.

*Non-participating hospitals under the BDMS-KBank Co-Branded Credit Card program are Royal Phnom Penh Hospital and Royal Angkor International Hospital in Cambodia, and certain hospitals located in other provinces including Mueang Phet Hospital, Muangraj Hospital, Thepakorn Hospital, Sri Rayong Hospital, Dibuk Hospital, Siriroj Hospital.

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