Djarum Group Acquires 3.64% Stake in Hermina (HEAL) for Rp 1.04 Trillion at Premium Price
Main Takeaways
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JAKARTA, Investortrust.id — Dwimuria Investama Andalan, the investment vehicle controlled by billionaire brothers Budi and Michael Hartono, has acquired a 3.64% stake in hospital operator PT Medikaloka Hermina Tbk (HEAL) for Rp 1.04 trillion ($63.5 million), marking another strategic move by the Djarum Group into Indonesia’s growing healthcare sector.
The transaction involved the purchase of 559.18 million treasury shares at Rp 1,875 per share—representing a 36.36% premium over Hermina’s closing price of Rp 1,375 on the Indonesia Stock Exchange (IDX) on Wednesday, June 25, 2025.
According to Deputy President Director Yulisa Khiat, the transaction was conducted off-market and involved all remaining treasury shares held by the company following a prior share buyback program. Dwimuria is also the controlling shareholder of PT Bank Central Asia Tbk (BBCA), Indonesia’s largest lender by market capitalization.
“The transaction was completed on June 25 through the negotiated market outside the IDX,” Yulisa confirmed in an official statement to the exchange.
Astra, Others Already on Board
Dwimuria’s entry follows the earlier acquisition by PT Astra International Tbk (ASII), which took a 7.23% stake in Hermina in 2022. The addition of Djarum-backed capital further broadens the shareholder base of one of Indonesia’s largest private hospital chains.
Current shareholder data show that Hermina is majority-controlled by a group of private investors. The largest stakes are held by Yulisa Khiat (12.78%), Binsar Parasian (5.34%), Hasmoro (4.78%), Astra International (7.23%), Lydia Immanuel (5.56%), and Meijani Wibowo (2.15%).
Financial Performance Slips in Q1 2025
Despite the growing interest from major investors, Hermina reported a slight dip in financial performance for the first quarter of 2025. Net revenue fell marginally to Rp 1.69 trillion from Rp 1.70 trillion in the same period last year.
Operating income dropped from Rp 333.26 billion to Rp 264.20 billion, while net profit declined from Rp 243.90 billion to Rp 160.59 billion. As a result, basic earnings per share slipped from Rp 12.96 to Rp 8.38.