KPJ sells Indonesian business for RM150mil

KPJ said the disposal was part of the restructuring of KPJ hospital operations in Indonesia that were triggered by the challenging business environment, licensing and regulatory requirements imposed on foreign operators like KPJ.

PETALING JAYA: KPJ Healthcare Bhd has entered into a share sale agreement with PT Nusautama Medicalindo (PTNM) to dispose its Indonesian hospital operations and facilities for an enterprise value of RM150.2mil.

The deal sees KPJ’s wholly-owned units Kumpulan Perubatan (Johor) Sdn Bhd, Crossborder Aim (M) Sdn Bhd and Crossborder Hall (M) Sdn Bhd selling the 75% stake in PT KPJ Medica as well as 100% stake in PT Al-Aqar Bumi Serpong Damai (AABSD) to PTNM.