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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