Creador Invests USD 45 M in Hermina

Creador Invests USD 45 M in Hermina

Creador, a national private equity company, becomes a minority shareholder in PT Medikaloka Hermina, Hermina Hospital network management company worth USD 45 million or IDR 600 billion. Creador’s total portfolio in Indonesia currently stands at USD 200 million.

Cyril Noerhadi, Senior Managing Director of Creador, said that the company is targeting the growth potential in the health sector which reaches ten percent in the last five years and health service spending amounting to USD 28 billion per year. Penetration of health services in Indonesia is relatively low with a ratio of 12 beds per
10,000 population, below the world average, amounting to 30 beds per 10,000 population.

“The role of the private sector is increasing rapidly in hospital services, and we will see this trend in line with the implementation of the government’s Health BPJS program for all people by 2019,” said Cyril.

Hasmoro, President Director of Medikaloka, said the company currently has 25 hospitals with a capacity of 2,600 beds. The company is targeting to have 40 hospitals with 4,000 beds by 2020.

This year, the company has opened two new hospitals in Makassar and Balikpapan. By the end of the year, the company will add three new hospitals in Purwokerto, Medan and Podomoro City Jakarta. In 2018, the company is also planning to build five new hospitals. The investment value for one hospital is estimated at IDR 90 billion to
IDR 100 billion, so the total investment for five hospitals is estimated at IDR 450 billion to IDR 500 billion. (*)

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