RECOVERY OF PUBLIC INTEREST IN HOSPITAL HEALTH CHECKUPS DRIVES SILO’S HEALTHCARE SERVICE EXPANSION

09/01/23

Jakarta, January 9, 2023 – In a research note published in November 2022, Jonathan Guyadi, an analyst at PT Samuel Sekuritas Indonesia, reported that the performance of hospital issuers was affected by the declining number of Covid-19 patients. However, visits from non-Covid patients have continued to grow. One notable example is Siloam Hospitals, operated by PT Siloam International Hospitals Tbk. (SILO), a subsidiary of PT Lippo Karawaci Tbk. (LPKR) in the healthcare sector.

Siloam Hospitals recorded the highest number of Inpatient Days and Outpatient Visits in Q3 2022 compared to the previous 10 quarters. Inpatient Days during the first nine months of 2022 rose 8.3% to 587,617 days, compared to 542,772 days in the same period of 2021. As of September 2022, SILO also served over 2.2 million outpatients, representing a 32.2% increase compared to the same period the previous year.

Jonathan noted that these figures reflect a recovery in public interest in hospital-based health checkups after the pandemic, as many had previously avoided hospitals due to concerns over Covid-19 exposure. At the same time, the return of non-Covid patients has also shifted hospital service demands, with rising needs for more complex treatments, such as urology, neurology, cardiology, and oncology.

As reported in Q3 2022, SILO posted IDR 5.4 trillion in revenue, with EBITDA of IDR 1.4 trillion and a net profit of IDR 457 billion. This strong performance has positively contributed to its parent company, LPKR, which holds a 58.05% ownership stake in SILO.

John Riady, President Commissioner of SILO and Group CEO of LPKR, stated that LPKR through SILO remains committed to developing Indonesia’s healthcare industry. As the economy continues to grow, so does the demand for quality healthcare facilities. “LPKR, through SILO, will continue to expand. We have a mission to meet Indonesia's healthcare needs, and we are firmly committed to continued growth,” John emphasized.

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