TelkomMetra Divests AdMedika to Fullerton Health to Strengthen Business Focus
PT Multimedia Nusantara (TelkomMetra), a subsidiary of PT Telkom Indonesia (Persero) Tbk (Telkom), has signed a Conditional Share Purchase Agreement (CSPA) for the complete divestment of PT Administrasi Medika (AdMedika) including its subsidiary TelkoMedika to the Fullerton Health group.
This move aligns with the Indonesian state-owned enterprises streamlining directive mandated to TelkomGroup, focusing on the transformation pillar of TLKM 30. The portfolio restructuring and streamlining aim to strengthen the core business in the telecommunications and digital sectors whilst creating business opportunities for AdMedika Group to expand at national and regional levels.
AdMedika Group operates as a technology-based healthcare administrative services manager (third-party administrator/TPA), with a track record of providing claims management solutions and healthcare services to corporations and institutions across Indonesia. Given the increasingly competitive dynamics of the healthcare and insurance industries, the sustainability and accelerated development of AdMedika Group is considered more optimal with support from a strategic partner shareholder with aligned business interests.
“The signing of the CSPA with Fullerton Health, marking the path towards full divestment of AdMedika Group, is a carefully considered decision prioritising good corporate governance principles, through comprehensive business considerations, and aligned with TelkomGroup’s transformation efforts to strengthen focus on core business and long-term value creation,” said TelkomMetra Chief Executive Officer Pramasaleh Haryo Utomo.
Fullerton Health Group CEO Ho Kuen Loon stated that the acquisition reflects Fullerton Health’s commitment to strengthening its presence and contribution within Indonesia’s healthcare services landscape.
“AdMedika has been maturely developed within TelkomGroup into a trusted and highly comprehensive healthcare administration platform, built on strong governance, digital innovation, and clinical discipline. These qualities align with our capabilities and values. We view this acquisition as an important step to expand access to high-quality healthcare services for the Indonesian population and the broader regional community,” he said.
“The acquisition also opens opportunities to enhance service quality and meet the evolving needs of patients, clients and partners across Indonesia,” he added.
Fullerton Health, which will become the new owner of AdMedika Group upon completion of the acquisition, possesses deep regional experience and proven operational capabilities across various healthcare and health benefit service markets in Asia.
“The combination of both organisations’ strengths creates a broader growth platform, combining AdMedika Group’s strong foundation in the domestic market with Fullerton Health’s regional expertise in managed care, healthcare provider networks and digital health,” he said.
This positions the expanded platform for more effective growth, driving innovation and strengthening AdMedika Group’s leadership position in TPA solutions in Indonesia, whilst opening the path for future expansion across the broader region.