Indonesia’s PT Multimedia Nusantara (TelkomMetra), a subsidiary of state-controlled telecoms group PT Telkom Indonesia, has signed an agreement to divest healthcare administration firm PT Administrasi Medika (AdMedika) and its unit TelkoMedika to Singapore-based healthcare provider Fullerton Health.
The companies signed a conditional share purchase agreement (CSPA) on March 4, marking the first step toward Fullerton Health taking full ownership of AdMedika Group once the transaction closes, TelkomMetra said in a statement. Financial terms of the deal were not disclosed.
The divestment forms part of a broader restructuring across the Telkom Group, which is seeking to sharpen its focus on digital infrastructure and telecommunications services under its ongoing transformation strategy.
The move is also aligned with Indonesia’s state-owned enterprise streamlining agenda aimed at improving efficiency and strengthening core operations among government-linked companies.
AdMedika provides technology-driven healthcare administration services, including claims management and healthcare network solutions for corporations, insurance companies and institutions in Indonesia.
The company has built one of the country’s largest healthcare administration networks and offers integrated digital health services.
TelkomMetra President Director Pramasaleh Haryo Utomo said the divestment decision was taken following comprehensive business considerations and is intended to support Telkom Group’s long-term transformation while allowing AdMedika to pursue growth with a shareholder more closely aligned with its healthcare business.
For Fullerton Health, the acquisition will expand its footprint in Indonesia, one of Southeast Asia’s largest healthcare markets.
The Singapore-headquartered group operates about 550 healthcare facilities across nine markets in Asia Pacific and works with more than 20,000 healthcare providers.
Fullerton Health Group CEO Ho Kuen Loon said the deal would help strengthen the company’s presence in Indonesia and support the development of healthcare administration services in the country and across the region.
Once completed, the transaction is expected to combine AdMedika’s established domestic network with Fullerton Health’s regional capabilities in managed care, healthcare provider networks and digital health solutions.
The companies said the combination could create a broader platform to scale services and support further expansion across Southeast Asia.
AdMedika has been part of the Telkom Group since 2010, when TelkomMetra acquired the healthcare administrator as part of efforts to build digital-enabled healthcare services.
The divestment reflects a growing trend among large telecom groups in Asia to streamline non-core assets while concentrating investment in digital infrastructure, cloud services and connectivity platforms.
Business News Asia
