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.

****