- Fostering growth domestically and abroad to drive medical equipment industry to world stage
Namwiwat Medical Corporation Public Company Limited (NAM) is confident that investors will respond well to the first day of trading of the Company’s shares on the Stock Exchange of Thailand (SET). The Company aspires to become a leader in the manufacturing, import, and distribution of medical instruments and sterile medical equipment in Thailand. Moreover, Namwiwat is striving to foster growth both domestically and abroad to actively drive Thailand’s medical device industry to global level, while being ready to reinforce business potential after major national corporations took up shares in the Company to together strengthen the business.
Mr. Viroj Chaiturdkiet, Chief Executive Officer of Namwiwat Medical Corporation Public Company Limited (Company or NAM), revealed that the Company has listed its shares for first-day trading on October 31, 2023 on the Stock Exchange of Thailand (SET), under the “Consumer Products” industry group and “Personal Products & Pharmaceuticals” sector with the trading abbreviation “NAM”. The Company firmly believes in the potential of its operation with more than 50 years of experience and expertise in the industry, and the accumulation of knowledge and knowhow, coupled with the introduction of new innovations in the production of medical instruments and equipment. These positive aspects will definitely make NAM a new IPO stock that will attract investors.
The Company plans to foster continuous growth by investing to increase competitiveness, as the demand for higher medical standards is currently on the increase, especially in regard to decontamination, disinfection and sterilization for which the equipment must be absolutely safe for reuse. Therefore, it is extremely important to heighten medical standards because the process to reduce the risk of contamination from outside is crucial. As a result, the medical industry, from large hospitals to nursing homes, have made continuous adjustments and paying closer attention to improving the standards of cleanliness and sterilization, thus, leading to increased demand for the cleaning and disinfecting of medical equipment.
Therefore, the Company has planned to use part of the capital raised from the fundraising to expand the new factory to increase production capacity of both medical equipment and consumable medical products to support the increasing demand for medical equipment products, as well as to support the manufacturing of new products that the Company will develop with partners in the future. In addition, the Company plans to invest in the development of medical equipment research and development center with the focus on developing products that meet the specific needs of hospitals at all levels, and passing on equivalent standards of cleanliness. It needs to be stressed that research, studies and data collection in various aspects form important steps in product research and development. Therefore, the Company plans to increase manpower in the fields of research & development, engineering and chemistry, while also adding or expanding floor space, and installing more equipment, instruments and machines. Also essential is the enhancement of software that requires additional programs in the areas of drafting, design, and analysis to expedite more operational convenience and suitability. These plans are expected to be put in place in the 2nd to 3rd quarters of 2024.
In addition, the Company is drawing up a strategic plan to create growth through expanding businesses related to medical equipment, cleaning, disinfection and sterilization and/or related businesses, to increase competitiveness and increase value for the Company in a consolidated manner. Also, the Company will focus more on expanding its businesses abroad to create a solid foundation to support growth and to drive Thailand’s medical equipment industry to global level in the future.
Mr. Varah Sucharitakul, Chairman of Finansa Securities Limited, as the Lead Underwriter, said that the fundraising of Namwiwat Medical Corporation Plc. is an important step that will help drive NAM to grow into a world-class medical instrument and equipment brand. And with the Company’s potential and impressive business expansion plan, many major national corporations have decided to become partners, including Innobic LL Holding Company Limited (a PTT Public Company Limited subsidiary), Innosprout Holding Company (a Pruksa Holding Public Company Limited subsidiary), and WHA Venture Holding Company Limited (a WHA Corporation Public Company Limited subsidiary), so as to join forces in doing business together. This fact should allow investors and shareholders to see the potential of the Company’s becoming a leader in the manufacturing and distribution of sterile medical instruments and equipment in Thailand while being ready to build on sustainable strength.
Mr. Vorachart Tuaycharoen, Managing Director of Finnex Advisory Co., Ltd., , as a financial advisor, said NAM is considered one of the leaders in the manufacturing and distribution of sterile medical instruments and equipment in Thailand that possesses a strong research and development team enabling the Company to create products and services and to develop new innovations, as well as expanding distribution channels both domestically and abroad. It is also significant that NAM has a group of strong allies to help reinforce the business. Thus, this is leading to an important opportunity for NAM to research and develop new products in order to better meet the needs of customers.
Mr. Kumpon Suangburanakul, Chief of Corporate Finance of Thanachart Securities Public Company Limited, as a financial advisor, said NAM has laid out strategies to maintain continuous growth, especially to cater to government hospitals as a customer group. The Company also plans to increase customers in the private hospital group, clinics or other public health organizations. As such, there are still many opportunities for potential customers to purchase the Company’s products or services, particularly with the strength in offering products and providing integrated services from manufacturing, importing, and distributing medical instruments and equipment as well as various related services. Also, there have been advancement in research and development to the point of registering own patents and the Company has also been registered as being a member of the country’s medical innovation group through the application of modern manufacturing technology in order to achieve high quality and internationally accepted standards.
Press release by MT Multimedia Company Limited (For Namwiwat Medical Corporation Plc.)
For additional information: Yuttachai Praikanahok (Tle)
Tel: +66 (0)91 736 2866; Email: Yuttachai.p@mtmultimedia.com
