Omni Hospitals Will Buy Emtek Group Hospitals, Worth IDR 1.25 Trillion

JAKARTA - The management of Omni Hospitals, PT Sarana Meditama Meditama Metropolitan Tbk, will buy as much as 99.99 percent of the shares of PT Elang Medika Corpora (EMC) which are owned by PT Elang Mahkota Teknologi Tbk (EMTK) worth IDR1.25 trillion.

Quoted from the disclosure of information on the Indonesia Stock Exchange (IDX), Monday, October 19, it was stated that the plan was contained in the SAME issuer's coded agreement with EMTK on October 15, 2020.

"In the plan to take over, the company will make payments using cash," wrote Sarana Meditama's management.

The planned transaction value reaches 225 percent of Sarana Meditama's equity value as of July 31, 2020, so that the planned transaction is a material transaction based on POJK 17/2020 which requires approval from the company's shareholders.

For this reason, Sarana Meditama will hold an Extraordinary General Meeting of Shareholders (EGMS) on November 24, 2020 to obtain approval for the purchase of Elang Medika Corpora and a planned right issue with a target fund of IDR 1.4 trillion.

For information, EMTK is a company engaged in services (professional activities) and trading and is the holding company of EMC. EMTK or Emtek Group is a company known for having several media brands such as SCTV, Liputan6, and Kapan Lagi Dot Com Networks.

EMC is a company engaged in the health sector and has a hospital business. Quoting the official EMC website , this company has two hospitals located in Sentul and Tangerang

With this transaction, Sarana Meditama hopes that there will be operational efficiencies that can contribute positively to consolidated financial performance in the future.

In addition, Sarana Meditama also hopes to strengthen its position and EMC in the hospital business sector. These things will later provide added value for the shareholders of this SAME-coded issuer.