When I see the stock market acting up like this, I become more interested in hospital stocks. Not because they will make me rich quickly, but because they are about stability. During times when the economy isn’t doing well, people still need to go to hospitals and receive treatment. Therefore, this business tends to have relatively steady income.

Currently, in the Thai market, there are several hospital stocks that are interesting, but not all are suitable for everyone. I’ve taken a quick look at what each one’s characteristics are.

Starting with the group focusing on foreign customers, BDMS and BH are considered the real players in this group. BDMS has a market cap of 319 billion baht, with a stock price of 20 baht. BH is a bit smaller, but has an ROE of 31.9%, which is very good. If you believe that medical tourism will continue to grow, these stocks are worth watching.

But if we look at the group focusing on domestic customers, the situation is different. VIBHA and CHG have much lower stock prices (1.88 and 1.50 baht), but their P/E ratios are relatively high, which means the market still expects growth. However, PR9 appears more balanced, with a P/E of 18.4 and an ROE of 14%. Its price has just increased slightly.

What I’ve noticed is that BCH was upgraded from “Hold” to “Buy,” with an expected profit growth of 23% year-over-year. If that’s true, it could be a good opportunity.

When choosing hospital stocks, you need to consider what you believe in. If you think tourism will continue to grow, pick the ones focusing on foreigners. If you believe the Thai population will age and require more medical services, then choosing those focusing on the domestic market makes sense. Both directions have their reasons.

One thing to remember is that hospital stocks are not stocks that will make you rich quickly. They are long-term holdings that pay dividends and are relatively safe. If that’s what you’re looking for, these stocks are worth paying attention to—whether it’s BDMS, BH, BCH, or others I mentioned.