March 31, 2019
Jakarta, March 31, 2019 – PT Medikaloka Hermina Tbk (“Hermina”, “the Company”) announced its audited financial results for the full year ended December 31, 2018 (FY18) with a net revenue of IDR 3.06 trillion. The Company also reported Earnings Before Interest, Tax, Depreciation, and Amortization (EBITDA) of IDR 644.5 billion and net income of IDR 191.0 billion.
In 2018, Universal Healthcare Coverage (JKN) patients contributed 65% of inpatient admission and 49% of outpatient visits. Despite roughly half of the net revenue originating from JKN, the Company has been able to maintain a stable margin through economies of scale and constant improvement in operating efficiencies. Hermina has also proven its ability to navigate the challenges posed by JKN, including the temporary adverse rulings in the middle of 2018, by implementing the necessary strategy.
Hermina exceeded its full year target for bed addition by having 3,378 operational beds across 32 hospitals. The bed occupancy rate sits at a healthy 65.8%, even after Hermina added close to 600 beds. It served 310,200 inpatient admissions (27.8% increase yoy) and 5.29 million outpatient visits (17.5% increase yoy). The total inpatient days grew by 23.9% to 776,700 with an average length of stay (ALOS) of 2.5 days. The shorter ALOS indicates a high operational efficiency of our hospitals.
In addition to exceeding the bed target, the Company also realized its full year expansion target by adding another two hospitals in the fourth quarter of 2018. Hermina Padang Hospital was opened on December 20, 2018, together with the signing of the acquisition of a hospital in Bandar Lampung, Sumatera.
In regards to the proceed of the Initial Public Offering (IPO), by today, the Company has fully deployed all of the net proceeds of IDR 1.25 trillion. In 2018, Hermina has deployed capital expenditures in a total of IDR 768.7 billion.
PT Medikaloka Hermina Tbk is one of the largest general hospital networks 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 2018, the Company has 32 hospitals consisting of 6 type B hospitals and 26 type C hospitals with more than 3,200 doctors and specialists across 20 cities in Indonesia. The Company went public at Indonesia Stock Exchange (IDX) on May 16, 2018 and is trading with the ticker symbol HEAL.