SAME - PT. Sarana Meditama Metropolitan Tbk

Rp 396

+6 (+2,00%)

JAKARTA. PT Sarana Meditama Metropolitan Tbk (SAME), which manages the Omni Hospitals hospital network, will take over a 99.99% stake in PT Elang Medika Corpora (EMC).

According to SAME President Director Maria Theresia Yulita, the acquisition is valued at Rp 1.25 trillion. In a stock exchange filing, she said that the transaction aims to create integrated health services and expand SAME's market share.

"With the transaction, the company expects efficiency in its operation," Ms Yulita said.

The acquisition value of EMC is twice SAME's total equity, which was recorded at Rp 557.36 billion as of 31 July 2020. The company will seek shareholders' approval to pursue the acquisition plan, which is categorised as a material transaction.

So far, the company plans to use proceeds from a rights issue to acquire EMC due to its cash and cash equivalents recorded at only Rp 30.8 billion as of 31 July. (KR/MS)