Maternity and Child Care Hospital Project (ADB-52120-001)

Countries
  • Indonesia
Where the impacts of the investment may be experienced.
Specific Location
Nation-wide
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Apr 24, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
PT Medikaloka Hermina
The holder of the loan, grant, or other investment.
Sectors
  • Education and Health
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 200.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Corporate Actor Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS May 7, 2020

Disclosed by Bank Apr 10, 2018


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to the bank document, the equity investment will help Hermina expand its operations from the current 28 hospitals with 2,780 beds to 40 hospitals with 4,000 beds during 2018 -2020.

ADB's participation in the initial public offering of PT Medikaloka Hermina as an anchor investor will play an important role, both by providing direct financing and in attracting third-party investors and establishing confidence in Hermina's future access to capital markets.

Key Activities with Milestones

Output 1: Operational medical treatment facilities increased

1.1 Finance agreements executed by ADB by May 2018

1.2 Hospitals start operations by 2020

Output 2: Use of electronic health and medical records increased

2.1 Electronic record management system piloted by December 2018

Output 3: Local employment generated

3.1 Partnership programs with local universities executed by March 2019

3.2 Management and employee stock option plan finalized by May 2019

Investment Description
  • Asian Development Bank (ADB)

Equity
ADB: $10 million
Leading Asia’s Private Infrastructure Fund: $10 million
Other investors: $180 million

Private Actors

PT Medikaloka Hermina Tbk operates hospitals in Indonesia. The company operates hospitals that provide public health and medical services. As of December 31, 2017, it had 28 hospitals with total of 2,780 beds. PT Medikaloka Hermina Tbk was founded in 1999 and is based in Central Jakarta, Indonesia.

Contact Information

Responsible ADB Department: Private Sector Operations Department

Responsible ADB Division: Office of the Director General, PSOD

Responsible ADB Officer: Patil, Aniruddha V.

*There is no further information being revealed at this stage of the project*

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main