Consumer Markets

Hermina Targets IDR 2.6 T from IPO

Medikaloka Hermina, the hospital network manager, will divest some of its shares to the public with a target of around IDR 2.6 trillion. Proceeds will be used to support the expansion of hospital networks both organic and non-organic through acquisitions.

Hasmoro, President Director of Medikaloka, said that the company is reviewing the IPO to maintain better and more transparent performance because it is monitored by public shareholders. “In our business plan there is quantum leap, we are targeting to have 40 hospitals with 4,000 beds by 2020, which can be fulfilled if we are
partnering with new investors,” said Hasmoro.

The company currently has 25 hospitals with a capacity of 2,600 beds. Within the next three years, the company must add 15 hospitals with 1,400 beds to achieve the target.

Medikaloka just gained fund injection from Creador worth IDR 600 billion with a minority stake below five percent. The company also has two other private equity investors, with a capital participation value smaller than Creador’s investment. The total current shareholders are 16 parties, namely three private equity and 13
doctors who are the founders of the company.

The company intends to retain the majority stake of the founders by 75 percent after the IPO. IPO is expected to be implemented by 2018. The company is currently finalizing the underwriters selection. There are 15 securities companies that follow this process. The company will appoint three to four securities as its
underwriters. (*)

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Hari Widowati

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