Rising consumer willingness to pay, growing trust in brands like Siloam, Mayapada, and Mitra Keluarga, and foreign investment in private hospital expansion reinforce dominance in this channel. Aristo is a special advisor to the Indonesian Minister of Health. Until recently Aristo was the Managing Director of Hermina Hospitals, where he led the growth and transformation of the company to become … · Siloam, as a leading group of advanced medical institutions in Indonesia, has been working to meet growing healthcare needs in the country, and its market capitalization has more than … Hermina is uniquely positioned to take advantage of middle healthcare penetration and universal health coverage roll-out through the Jaminan Kesehatan Nasional ("JKN") scheme in Indonesia. Expansion into Rural Areas: With over 44% of Indonesias population residing in rural areas, the expansion of hospital services to these regions presents a significant growth opportunity. We also raise our salary cost estimates to reflect potential impacts from the company’s four new hospital openings (Exhibit 14), resulting in a downward revision of our FY25/26F net profit forecast by 8%/13%. · Both Mitra Keluarga (MIKA) and Hermina Hospital (HEAL) reported sales revenues below the government’s claimed GDP growth in the first half of 2025. While Mitra Keluarga grew …
