Corporate News


Date Title
June 6, 2018 Hermina Delivered Robust 18.6% Revenue Growth while Maintaining Stable Margin in 1Q18; Well on Track with the Expansion Plan |

Jakarta, June 6, 2018 – PT Medikaloka Hermina Tbk. (“Hermina”, “the Company”) has delivered a net revenue of IDR 746.5 billion in 1Q18, an increase of 18.6% compared to the revenue of IDR 629.2 billion from the same period last year. The EBITDA came in at IDR 158.3 billion, which represents a stable 21.2% EBITDA margin, despite opening four hospitals in 2017. Increasing middle income population, opening up of healthcare access in Indonesia, and the appropriate business strategies have allowed the Company to deliver such growth.

Hermina was an early adopter in serving the Universal Healthcare Coverage (JKN) patients, and by today all of its hospitals accept JKN patients. In 1Q18, JKN contributed 66% of inpatient admission and 48% of outpatient visits, an increase from 51% and 40%, respectively. Despite roughly half of Hermina net revenues are derived from JKN patients, the Company has been able to maintain a stable margin through economies of scale and continuous improvement in operating efficiencies.

Hermina is on track with its expansion plan on both existing hospitals and new hospitals. Per March 31, 2018, the bed occupancy rate sits at 63.4% despite having added more than 200 beds in 22 hospitals. On the patient volume, in 1Q18, Hermina recorded 71,500 inpatient admissions (31.7% increase yoy) and 1.3 million outpatient visits (26.3% increase yoy). Total inpatient days increased by 30.3% to 182,000 with an average length of stay (ALOS) of 2.5 days. The Company plans to add four general hospitals each year until 2020 and is currently on track for its 2018 target with the opening of a new hospital in Samarinda in April 2018. Hermina Samarinda Hospital is a type C general hospital supported by 39 specialists, 6 general practitioners, 47 nurses, and 50 operational beds.

This result is the first published result after Hermina getting listed with a net proceed of IDR 1.25 trillion to the Company.  The proceed will allow Hermina to continue to grow and to reduce its debt.

 

About Hermina

PT Medikaloka Hermina Tbk is one of the largest general hospital network in Indonesia with 33 years of experiences in providing professional and comprehensive healthcare services. In addition to its strong heritage in women and children care, Hermina has developed itself to become a provider of specialties across healthcare. As of April 30, 2018, the Company has 29 hospitals consisting of 6 type B hospitals and 23 type C hospitals with approximately 2,450 specialists across 18 cities in Indonesia. The Company went public at Indonesia Stock Exchange (IDX) on May 16, 2018 and is trading with the ticker symbol HEAL.

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May 16, 2018 Hermina Begins Trading on the Indonesia Stock Exchange |

Jakarta, May 16, 2018 – PT Medikaloka Hermina Tbk (“Hermina”, “the Company”), the owner of Hermina Hospitals, successfully listed its shares on the Indonesia Stock Exchange (IDX) with the stock ticker HEAL. Hermina offered 351,389,800 new shares, equivalent to 11.8% of its enlarged paid-up capital at its Initial Public Offering (IPO). Together with this IPO, there is a secondary offering of 178,368,800 shares, equivalent to 6.0% of its enlarged paid-up capital at IPO, subscribed by institutional investors at the same price as the IPO.

Hermina received a positive response from both domestic and international investors during its IPO process. At the end of the public offering period which was conducted on May 8-11, 2018, there was a retail oversubscription of 29 times.

The President Director of the Company, dr. Hasmoro, SpAn, MM, MHA expressed, “We would like to thank all our patients and investors who have been supportive towards Hermina throughout its journey. The IPO is a signifant milestone of the Company’s long term strategy in expanding coverage, generating sustainable growth, and improving the healthcare services to the community.”

Hermina raised an approximately IDR1.3 trillion with the IPO and planned to allocate the proceeds for the development of new hospitals (25%), the purchase of medical equipment (25%), the debt repayment (38%), and the funding needs of the Company (12%).

The Company plans to build 12 hospitals over the next 3 years. The Company has opened its 29th general hospital at Samarinda, East Kalimantan in recent days.

Hermina has reported a robust financial performance with a total revenue of IDR 2.7 trillion and EBITDA of IDR 575 billion in the fiscal year of 2017. Over the past three years, the Company has achieved a remarkable revenue Compounded Annual Growth Rate (CAGR) of 25.2%  and EBITDA CAGR of 30.8%.

The Company’s growth was driven by increasing middle income population and healthcare spending in Indonesia. As one of the largest private hospital networks, Hermina is an early adopter in serving the Universal Healthcare Coverage (JKN) patients. It has experienced a consistent revenue growth while maintaining a stable margin through economies of scale and improved operating efficiencies.

“We are confident that the IPO will add to the Company’s momentum in pursuing the interests of all stakeholders, especially in providing access to healthcare service for the people of Indonesia,” said dr. Hasmoro.

 

About Hermina

PT Medikaloka Hermina Tbk is one of the largest general hospital network in Indonesia with 33 years of experiences in providing professional and comprehensive healthcare services. In addition to its strong heritage in women and children care, Hermina has developed itself to become a provider of specialties across healthcare. As of December 31, 2017, the Company has 28 hospitals consisting of 6 type B hospitals and 22 type C hospitals with approximately 2,400 specialists across 17 cities in Indonesia.

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April 18, 2018 PT Medikaloka Hermina Tbk (Hermina) Offers Up to 11.8% Shares to Public |

Jakarta, April 18, 2018 – PT Medikaloka Hermina Tbk (Hermina), the owner of Hermina Hospitals, offers to the public as many as 351.4 million new shares or an equivalent to 11.8% through an Initial Public Offering (IPO). The Company also allocates up to 2 million of IPO shares to employees through the Employee Stock Allocation (ESA) program. In addition to that, the Company also provides stock options to management and employees of up to 3% of issued paid up capital after the IPO through the Management and Employee Stock Option Plan (MESOP) program. The Company appointed PT Citigroup Sekuritas Indonesia, PT Credit Suisse Sekuritas Indonesia, PT DBS Vickers Sekuritas Indonesia and PT Mandiri Sekuritas as joint lead underwriters (JLUs).

In accordance with the Company’s plan, the book building will take place from April 18 – 26, 2018. The effective statement from the Financial Services Authority (OJK) is expected to be issued on May 7, 2018. The implementation of the public offering will take place from May 9 – 11, 2018 and the initial listing of shares in Indonesia Stock Exchange (IDX) is expected to be held on May 16, 2018.

Hermina plans to use the IPO proceeds of a quarter each for the development of new hospitals, the purchase of medical equipment, debt repayment, and the financing needs of the Company.

In terms of financials, the Company’s total revenue was Rp2,678.2 billion with EBITDA of Rp574.9 billion in 2017. The Company has achieved a remarkable revenue growth of 25.2% Compounded Annual Growth Rate (CAGR) with EBITDA growth of 30.8% CAGR over the past three years due to increased healthcare spending in Indonesia. In addition to that, despite serving a large number of patients of the Universal Healthcare Coverage (JKN) program, the Company is able to maintain a stable margin and a robust profitability through economies of scale and improved operating efficiencies.

In 2017, the Company has increased its revenue by 19.9% ​​from Rp2,234.3 billion to Rp2,678.2 billion. Inpatient admissions increased by 28.6% from 188,719 in 2016 to 242,741 in 2017. At the same period of time, the outpatient visits increased by 26.7% from 3.5 million to 4.5 million.

 

About Hermina

PT Medikaloka Hermina Tbk is one of the largest general hospital network in Indonesia with 33 years of experiences in providing professional and comprehensive healthcare services. In addition to its strong heritage in women and children care, Hermina has developed itself to become a provider of specialties across healthcare. As of December 31, 2017, the Company has 28 hospitals consisting of 6 type B hospitals and 22 type C hospitals with approximately 2,400 specialists across 17 cities in Indonesia.

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