Quadria’s investment and
partnership to help transform Hermina into leading tertiary hospital group in Asia
SINGAPORE, 22 March 2021 – Quadria Capital, Asia’s leading
healthcare investment firm, has successfully
completed an investment in PT Medikaloka Hermina Tbk, one of the largest
private hospital groups in Indonesia, with 41 general hospitals and over 5,000
beds nationwide. This marks Quadria’s third investment from its fourth
investment vehicle, Quadria Capital Fund II L.P.
Hermina was founded in 1985 as a single maternity hospital
with seven inpatient beds. Over the last 35 years, Hermina has grown into the leading hospital group in Indonesia with presence in 26 cities through a robust mix of organic, green field, and acquisition-driven expansion. Hermina hospitals serve over six million outpatients and 375 thousand inpatient admissions annually, supported by an extensive network of over 3,800 doctors and specialists.
With a commitment to providing high standard
health services for all levels of society, Hermina is amongst the earliest
adopters to Indonesia’s universal healthcare coverage
roll-out (JKN scheme administered by BPJS), with all of its hospitals
participating in JKNs and half of its revenue comes from JKN patients.
Abrar
Mir, Managing Partner and Co-Founder of Quadria Capital, said: “We are
impressed by the vision of Hermina’s founders as pioneers of affordable private healthcare in Indonesia; we are even more impressed by their ability to realise that vision at significant scale. We are excited to work alongside the founders and a stellar management team to transform Hermina into a leading tertiary care provider in the region.”
Dr. Amit Varma, Managing Partner and
Co-Founder of Quadria Capital, added: “Hermina represents a great opportunity for Quadria to work with the leading hospital network in Indonesia. The management team and the medical professionals in Hermina have done a tremendous job in building a market dominant platform. We look forward to bringing our network and expertise to transform Hermina into Indonesia’s largest multi-specialty care network.”
Dr. Hasmoro, President Director of Hermina,
said: “Hermina is at an important juncture in its evolution where we have
established ourselves as the leading hospital group in Indonesia. Our
partnership with Quadria will help launch Hermina into its next phase of growth and support the development of several new initiatives in serving higher intensity cases.”
Aristo Setiawidjaja, Board of Director and
Managing Director of Hermina, said: “
We believe that Quadria, with its domain expertise in healthcare, is the right partner for Hermina for the next phase of its strategic growth. We have identified a number of collaboration opportunities and we also look forward to further our ESG driven framework within Hermina, together with Quadria.”
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About Quadria Capital
Quadria Capital is
an independent healthcare focussed private equity firm with assets under
management exceeding US$ 2 billion and investments in 22 companies across the
Asia-Pacific region.
We focus on
partnering with promising regional healthcare companies and, with our active
investment strategy, help them grow into regional leaders, while creating and
delivering outstanding returns to our investors.
We complement our
investment objective with a progressive investment philosophy of creating
positive impact on environment, society and governance. Our aim is to improve
lives by bringing better healthcare for all. This comes from our belief that
positive investment returns and constructive social and financial impact must
go hand-in-hand.
TThe Fund is sponsored by Abrar Mir and Dr. Amit Varma and has operations based out of Singapore and New Delhi.
For more information, visit Quadria’s website at www.quadriacapital.com