CRISIS -- THE TIPPING POINT FOR MEDICAL TOURISM
In 1996, I started a medical services business in Asia along with three other business partners.
We had a
unique product, sound financial backing and within 8 months of startup we were operating in three...
More
CRISIS -- THE TIPPING POINT FOR MEDICAL TOURISM
In 1996, I started a medical services business in Asia along with three other business partners.
We had a
unique product, sound financial backing and within 8 months of startup we were operating in three
markets and moving quickly into the fourth.
We were on a roll in a region that was growing in excess of
7% annually.
And then, in the blink of an eye, the bottom fell out.
The devaluation of the Thai Baht in 1997 triggered a regional economic crisis that put our business and
many, many others on the brink of collapse.
It all happened so fast.
One day the baht was a 25 to the
dollar and the next it was 50.
One day we were running into expansion, and the next day we were running
from recession.
I would have jumped out the window, but we occupied the first floor of the building.
When it rains it pours.
Another local business that was in the same financial headlock at that time was Bumrungrad Hospital.
The
hos
Less
