Daily BriefsIndonesia

Daily Brief Indonesia: Medikaloka Hermina and more

In today’s briefing:

  • Medikaloka Hermina (HEAL IJ) – Increasing Patient Velocity and Occupancy


Medikaloka Hermina (HEAL IJ) – Increasing Patient Velocity and Occupancy

By Angus Mackintosh

  • Medikaloka Hermina (HEAL IJ) booked a strong recovery in revenues and profits in FY2023 driven by rapidly rising inpatient and outpatient volume growth with JKN patient share rising. 
  • The company also saw significant improvements in working capital in 2023 and will step up its capex and hospital expansion in FY2024E helping to drive growth. 
  • Medikaloka Hermina is differentiated by its women & children specialisation, higher JKN exposure, and its doctor partnership model. It trades at a discount to peers with higher growth expectations. 

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