TelkomMetra Strengthens Business Portfolio Restructuring Steps - BCA Securities
PT Multimedia Nusantara (TelkomMetra), an operating company of PT Telkom Indonesia (Persero) Tbk (Telkom), has officially signed a Sale and Purchase Agreement (SPA) with the Fullerton Health group regarding the full divestment of PT Administrasi Medika (AdMedika), including its subsidiary TelkoMedika (collectively referred to as the AdMedika Group). The SPA, executed on Tuesday (2/6) between TelkomMetra as the seller and Fullerton Health as the buyer, marks a significant milestone in the optimisation of TelkomMetra’s portfolio, positioning the AdMedika Group to enter its next growth phase under Fullerton Health’s ownership, including opportunities for regional expansion.
In line with the SOE streamlining aspirations mandated by Danantara Indonesia, this step is part of an effort to build a more focused, agile, and globally competitive business structure for TelkomGroup. This initiative is also part of the execution of the TLKM 30 medium-term transformation strategy, specifically through the third pillar involving the restructuring of non-core business portfolios to strengthen the company’s concentration on its core businesses in the telecommunications and digital sectors.
Setyanto Hantoro, Managing Director Business-2 at PT Danantara Asset Management, stated, “This strategic move aligns with the transformation and SOE portfolio restructuring agenda being driven by Danantara to build companies that are more focused, healthy, and globally competitive. Through targeted portfolio restructuring and collaboration with global partners such as Fullerton Health, we believe this synergy will strengthen Indonesia’s digital ecosystem capabilities, particularly in the healthcare sector, and create sustainable long-term value for all stakeholders.”
“TelkomGroup continues to implement its business portfolio restructuring strategy with discipline to build a more agile, efficient, and value-oriented company. We view strategic partnerships like this not merely as corporate transactions, but as part of an effort to create a more optimal business structure so that every entity can grow more aggressively and open wider spaces for business innovation in the future,” said the President Director of Telkom, Dian Siswarini.
Meanwhile, the President Director of TelkomMetra, Pramasaleh Haryo Utomo, added, “TelkomMetra views this step as a strategic momentum to strengthen the long-term added value of AdMedika. Under the ownership of Fullerton Health, we believe AdMedika is in a solid position to enhance its capabilities, expand its business scale, and access a broader regional healthcare service ecosystem, while maintaining the strong foundation built in Indonesia.”
AdMedika Group possesses a strong business foundation, technological capabilities, and a proven track record in the health administration industry (third-party administrator/TPA) in Indonesia. As part of Fullerton Health, which has extensive regional experience across the Asia Pacific, this collaboration is expected to strengthen AdMedika Group’s position as one of the leading healthcare administration and managed care players in Indonesia.
“This acquisition affirms Fullerton Health’s long-term commitment to Indonesia and our ongoing investment in building an integrated and scalable healthcare service platform. By joining the AdMedika Group into the Fullerton Health ecosystem, we are strengthening our operational capabilities in healthcare administration while leveraging the regional network we have built to meet the growing healthcare needs in Indonesia,” said Ho Kuen Loon, Group CEO of Fullerton Health.
Through this strategic move, TelkomGroup, TelkomMetra, and Fullerton Health Group hope to strengthen the healthcare and digital services ecosystem in Indonesia, while creating sustainable added value for all stakeholders.