Danantara Calls for Telkom to Divest AdMedika to Singapore-based Company
Indonesia’s state investment management body, Badan Pengelola Investasi Daya Anagata Nusantara (BPI Danantara), has requested PT Telkom Indonesia Tbk (TLKM) to divest its healthcare administration management company PT Administrasi Medika (AdMedika) and its subsidiary entity, TelkoMedika. The AdMedika Group company is planned to be acquired by Singapore-based healthcare service provider Fullerton Health.
Danantara currently holds the majority stake in Telkom with ownership of approximately 51.08 billion shares, equivalent to 51.57 per cent of total circulating TLKM shares. The AdMedika divestiture process is being conducted through Telkom’s subsidiary, PT Multimedia Nusantara (TelkomMetra).
Both parties signed a Conditional Sale and Purchase Agreement (CSPA) on 4 March 2026. Telkom management stated that this step aligns with the state-owned enterprise portfolio restructuring programme promoted by Danantara and forms part of the company’s transformation strategy.
“This step aligns with the BUMN streamlining aspirations mandated by Danantara to TelkomGroup, which is one of the focus areas under the TLKM 30 transformation pillar,” Telkom management stated in an official announcement in Jakarta on Tuesday, 10 March 2026.
Telkom explained that portfolio restructuring is being undertaken to strengthen the company’s focus on core business in the telecommunications and digital services sectors. Meanwhile, this divestiture is expected to create opportunities for AdMedika Group to develop more broadly, both in the domestic and regional markets.
TelkomMetra Chief Executive Pramasaleh Haryo Utomo stated that the divestiture decision was made through a measured process whilst considering various business aspects.
“Signing the CSPA with Fullerton Health, which represents a step towards the full divestiture of AdMedika Group, is a decision made in a measured manner whilst upholding good corporate governance principles,” Pramasaleh said.
He added that this step aligns with TelkomGroup’s transformation to strengthen focus on core business whilst creating long-term value for the company.
Meanwhile, Fullerton Health Group CEO Ho Kuen Loon stated that the AdMedika Group acquisition is part of the company’s strategy to expand its presence in Indonesia’s healthcare services industry.
According to him, AdMedika has developed into a strong healthcare administration platform under TelkomGroup with support for good corporate governance and digital innovation.
“This acquisition opens opportunities to improve service quality and meet the evolving needs of patients, clients and partners throughout Indonesia,” Ho said.
As background, Fullerton Health is an integrated healthcare service provider based in Singapore that operates in several Asia-Pacific countries, including Indonesia. The company provides various healthcare solutions for corporations, insurance companies and individuals through a network of clinics, health check-up services, occupational health services and health benefits management or third party administration (TPA).
AdMedika Group is known as a technology-based healthcare administration management company with a track record of providing claims management and healthcare service solutions for various corporations and institutions in Indonesia.
Telkom believes that future development of AdMedika Group will be more optimal if supported by a strategic partner that has business alignment in the healthcare services sector.