JAKARTA (TheInsiderStories) – Global equity firm, CVC Capital Partners through its unit, Prime Health Company Ltd aggressively adds share ownership in PT Siloam International Hospitals Tbk (IDX: SILO). In the past month, at least CVC has added 129.7 million shares of the unit of PT Lippo Karawaci Tbk (IDX: LPKR).
SILO is one the largest healthcare group in Southeast Asia which operates 32 hospitals in Indonesia under. In 2016, CVC acquired a 15 percent stake in the company for $165 million.
in the first half (1H) of 2018, the hospital operator recorded gross operating revenues of Rp2.8 trillion (US$190.48 million), up 13.5% percent compared to last year (YoY).
10 new hospitals opened in 2017 and 2018 and boosted the company’ revenues. Eight of mature hospitals were up by 7.7 percent YoY to Rp1.43 trillion from Rp 1.33 trillion, contributing 32.0 percent to the company’s revenues.
Net Operating Revenue grew 12.2 percent to Rp2.11 trillion, while gross profit amounted to Rp868.7 billion, rose by 12.9 percent YoY. Earnings Before Interest, Tax, Depreciation and Amortization up by 3.4 percent to Rp331.0 billion (YoY).
SILO booked net loss Rp 25.1 billion, down 193.3 percent YoY due to the loss of the 10 new hospitals opened in 2017 and 2018 amounted to Rp125.5 billion. These 10 hospitals are in ramp-up stage and will be profitable as their revenue grow.
On volume, Out-patient visits grew by 13.2 percent YoY, while In-patient admissions up by 14.6 percent YoY. Bed Occupancy Rate was recorded at 53.0 percent with 495 additional operational beds YoY, of which 354 beds were from the seven new hospitals opened after 1H 2017.
Siloam now operates 33 hospitals in 24 cities and 16 clinics in 8 cities throughout the country receiving more than 2 million visits & admissions and carrying out more than 55,300 surgeries every year. The 6,800 beds capacities are supported by about 2,700 specialists and general.
Beside eyes SILO’ shares, CVC Capital Partners is reported has invested in PT GarudaFood Putra Putri Jaya Tbk (IDX: GOOD). The investment firm will invested about US$150 million in GarudaFood ahead of a planned initial public offering.
The company owned by Tudung Group has listed at the Indonesia Stock Exchange. The company was established on August 31, 1990 under the auspices of Tudung Group as the parent company.
The United States’ firm also reported eyeing 21 percent shares of Indonesian medium lender, PT Bank Bukopin Tbk (IDX: BBKP) through a right issue, Eko R. Gindo, its CEO told TheInsiderStories on June 29.
The company will sell 2.7 billion shares or around 30 percent, at an indicative price between Rp500 to Rp700, and will raise a total of Rp2 trillion to Rp 2.7 billion from the action.