Summary · why it matters
SPTX Public Company Limited, or SPTX, has announced the acquisition of Rassamee Poom Clinic for a total value of 1.195 billion baht, moving into the beauty and health business as a new revenue source, or New S-Curve. Dr. Atcha Noonkan, Chief Executive Officer of SPTX, said the deal is a key strategy to expand into the beauty and health segment, which has high growth potential. The transaction consists of an Entire Business Transfer from Rassamee Poom Holding (Thailand) Company Limited, which holds 65.44%, paid for through a private placement of no more than 85,000 million new ordinary shares at 0.01 baht per share, totalling 850 million baht, alongside the purchase of a further 26.56% stake from Rassamee Poom Holding (Hong Kong) Company Limited for 345 million baht in cash. This is a significant and connected transaction and must be approved by the extraordinary general meeting of shareholders, the third of 2026, on 27 November 2026, with no less than three-quarters of the votes, as well as approval of a waiver of the mandatory tender offer, or whitewash, after the transaction is completed. Dr. Rassamee Sumetheewit will hold shares in SPTX both directly and indirectly through Aesthetic Center Point Company Limited, rising to 43.39% of total voting rights and becoming the largest shareholder, though this does not constitute a change of control of the company, since it does not exceed 50% of SPTX's voting rights. SPTX will begin recognising revenue from Rassamee Poom Clinic in its consolidated financial statements from the first quarter of 2027 onwards. The operating results of Rassamee Poom Anti-Aging Company Limited showed total revenue of 170.34 million baht in 2023, growing to 193 million baht in 2024 and 200 million baht in 2025, while net profit was 10.27 million baht in 2023, falling to 8.64 million baht in 2024 and growing 116% to 18.65 million baht in 2025. In the first half of 2026, revenue was 111.1 million baht and net profit grew by more than 100% to 31.65 million baht, with the net profit margin rising to 28.50% from 18.65% in 2025. Rassamee Poom Clinic currently operates four branches in Bangkok and Nonthaburi, namely Sukhumvit 49, Rama 2, Rattanathibet and along the Ram Inthra expressway, and plans to expand by a further nine branches within five years from the completion of the transaction, for a total of no fewer than 13 branches.
