Astra Group to Spend More Budget on Health Business Expansion

Summary

Astra Group's PT Astra International Tbk (ASII) mulls increasing its stake in Hermina Hospital network operator PT Medikaloka Hermina Tbk (HEAL). Astra International Director Gidion Hasan said Astra regularly conducts strategic reviews of these business lines.

"We feel Astra can provide added value, and Hermina can provide synergy. In addition, our investment in Hermina can provide added value to stakeholders," Gidion said in a virtual press conference on Thursday. Astra will also collaborate with Hermina and Halodoc to improve the whole health sector. Astra is one of the investors in telemedicine service startup Halodoc.

On Sept 16, ASII bought 140.29 million HEAL shares for Rp 1,375 per share, spending Rp 192.91 billion on the transaction. The transaction increased ASII's stake in HEAL to 7.45 percent or 1.11 billion shares from a 6.50 percent stake or 970.52 million shares.

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