June 6, 2018
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.
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.