Telkom Divests AdMedika to Fullerton Health
Singapore-based healthcare provider Fullerton Health Group has officially acquired AdMedika and TelkoMedika, both previously under the umbrella of Telkom Indonesia Group. The transaction, completed on Wednesday (3/6/2026), serves as an expansion for Fullerton Health Group in Indonesia and supports Telkom’s initiative to streamline its subsidiary portfolio.
“Our acquisition of AdMedika and TelkoMedera reflects our long-term commitment to the Indonesian market. This acquisition also represents our sustained investment in building an integrated healthcare services platform,” stated Ho Kuen Loon, Group Chief Executive Officer and Executive Director of Fullerton Health, in a written statement.
AdMedika specialises in healthcare service solutions, such as health insurance claim management systems and healthcare big data analytics, while its subsidiary, TelkoMedika, operates in integrated healthcare solutions ranging from clinics to hospitals. Previously, both entities operated under TelkomMetra, a subsidiary of Telkom Indonesia.
Following the acquisition, AdMedika and TelkoMedika will continue to operate under their respective brands and leadership in Indonesia as part of the Fullerton Health Group. Employees of AdMedika will maintain their current roles and gain access to professional career development opportunities across the Fullerton Health Group.
Loon explained that the acquisition strengthens Fullerton Health Group’s ability to connect healthcare access across seven Asia-Pacific countries, building on its strong presence in markets such as Singapore and the Philippines.
Setyanto Hantoro, Managing Director of Business-2 at PT Danantara Asset Management, noted that the transaction aligns with the agenda for restructuring State-Owned Enterprise (SOE) portfolios. The Danantara Investment Management Agency (BPI Danantara) continues to encourage other SOEs to organise their business portfolios to ensure they are focused, directed, and healthy.
Telkom Indonesia President Director Dian Siswarini stated that Telkom is reorganising its entire subsidiary business portfolio to become more agile, efficient, and value-oriented. She noted that the acquisition of AdMedika and TelkoMedika should be viewed as a move to encourage each entity to grow more aggressively.
According to Siswarini, AdMedika possesses a strong business foundation, technological capability, and a proven track record in Indonesia’s health administration industry. As part of Fullerton Health Group, AdMedica’s position as a healthcare administration solution provider is expected to strengthen.
Telkom Indonesia previously announced that it aims to reduce its number of subsidiaries from 67 to 19 by the end of 2026. The state-owned telecommunications company is implementing several strategies to accelerate this streamlining process, including mergers, divestments, liquidations, business consolidations, and the formation of new enterprise holdings.
Danang Widoyoko, a political economy analyst from Transparency International Indonesia (TII), argued that the current number of SOEs remains high, making oversight difficult. Based on audits by the Audit Board of Indonesia (BPK) regarding the Ministry of SOEs, there were approximately 65 SOEs by the end of 2024, a figure that fluctuates due to mergers and liquidations. The complexity is further compounded by layers of subsidiaries and grandchildren companies, which can be difficult to map clearly, especially when faced with issues such as debt, legal disputes, and loss-making entities.