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PT Bundamedik Tbk Public Expose – 9M23 Results Nov 2023 Disclaimer: Presentation are intended for educational purposes only and do not replace independent professional judgement. Statements of fact and opinions are those of the participants individually and, unless expressly stated to the contrary. Specific data in this presentation was obtained from various external data sources, and the Company has not verified such data with independent sources. Accordingly, the Company makes no representations as to the occurrence, accuracy or completeness of that data, and such data involves risks and uncertainties and is subject to change based on various factors.
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Leading Provider in Specialized Healthcare Services since 1973
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Bundamedik Tbk (BMHS)
Ecosystem
Expanding Presence
RSIA Az Zahra
10 HOSPITALS + 2 CLINICS
Women
& Children
Hospitals
11 IVF PROVIDER
PADANG
PONTIANAK
BATAM 28 LABORATORIES
Bunda
Hospitals PALEMBANG
MAKASSAR CLINICS NETWORK
1k++ (KLINIK PINTAR)
YOGYAKARTA
126 FERTILITY CLINICS
NETWORK (KFI)
Jakarta Depok
BANDUNG SURABAYA
Tangerang BALI RSIA BUNDA
DENPASAR
Bekasi
RSIA BUNDA
CIPUTAT RSJP Paramarta
Bandung
RSIA PUSURA
TEGALSARI
RSU CITRA
HARAPAN BEKASI
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9M23 Results
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9M23 Key Highlights
1 2
Hospital Revenue New Hospitals
+11% +5% +81%
Net Revenue YoY
vs 2Q23 vs 9M22*
+16%
+19%
# of Outpatients
# of IP Days
+17%
-26% +92%
+10% # of Surgeries +30% EBITDA improvement YoY
+12% # of Lab Tests** +2% From Rp -8.9 Bn (9M22) to
Rp -0.8 Bn (9M23)
3
Consolidated Gross Margin
54%
Increased +1% vs 2Q23 and
9M22
Our commitment to serve better *Exclude revenue from Covid
From embryo throughout life **Exclude revenue from Covid Lab Test
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Financial & Operational Performance
QoQ operational metrics improving
Key Notes
HIGHLIGHTS OF CONSOLIDATED RESULT 1 Core Business in 9M23
2Q23 3Q23 QoQ (%) 9M22 9M23 YoY (%) • Hospitals metrics: mostly grew in # Outpatients, # IP Admission and #
OPERATIONALS surgeries, but # IP Days declined by -26% YoY
1
# Outpatient 128.3 148.4 16% 351.1 410.7 17% • Morula – # of cycles -12% YoY due to slow cycles realization but 3Q has
# Inpatient Days 23.0 27.3 19% 99.0 73.6 -26% shown improvement QoQ
# Inpatient Admission 10.0 11.4 13% 24.9 31.2 26% • Diagnos – # of non-Covid test volume by +2% YoY
# Surgery 3.3 3.6 10% 7.9 10.2 30%
2
3Q23 Gross Revenue +18% QoQ due to:
# Beds 631 631 0% 627 631 1% • All QoQ operational metrics improving, resulted higher revenue Hospital +11%,
BOR (%) 40% 48% 64% 43% Morula +14% and Diagnos +7%
BOR Existing (%) 55% 64% 83% 55%
BOR New (%) 27% 35% 37% 29% 9M23 Gross Revenue -9% YoY due to:
• Hospital: -1% YoY, but core non-Covid increased by +5%,
# IVF Cycles 1.14 1.29 14% 4.35 3.82 -12%
• Morula -16% YoY given lower cycle volume
# Lab Test (Diagnos) 162.5 175.2 8% 648.8 509.5 -21% • Diagnos -26% YoY as the growth in non-COVID test volume is not yet able to
# Lab Test (Diagnos - non Covid) 153.8 172.0 12% 475.5 484.2 2% replace the sharp decline in COVID test volume
2 PROFIT LOSS
Gross Revenue 336 377 12% 1,228 1,099 -11% 3
Net Revenue 286 322 13% 1,082 941 -13% 3Q23 EBITDA +71% QoQ due to improvement in revenue and cost efficiency
Gross Profit 154 177 15% 578 512 -11%
9M23 EBITDA -42% YoY due to: lower revenue 9M23 and higher operational cost
GPM (%) to net 54% 55% 53% 54% to strengthen our pipeline
3
EBITDA 31 53 71% 251 145 -42%
EBITDA Margin (%) to net 11% 17% 23% 15%
Net Profit (8.4) 2.8 134% 108.3 9.0 -92%
NPM (%) -2% 1% 9% 1%
NP attributable to:
Owners of the parent (5.7) 1.9 133% 73.7 6.2 -92%
Non-controlling interests (2.7) 0.9 133% 34.5 2.8 -92%
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Hospitals Volume
# OUTPATIENTS # IP ADMISSION
+9% +16% +17% +13%
+43% 133.9 128.3
148.4 +86% 11.4
9.8 10.0
410.7 31.2
351.1 24.9
288.0 270.8 285.0
16.8 16.0 16.0
9M19 9M20 9M21 9M22 9M23 1Q23 2Q23 3Q23 9M19 9M20 9M21 9M22 9M23 1Q23 2Q23 3Q23
# IP DAYS # SURGERIES
+12% +19% +19% +10%
+55% 27.3 +98% 3.6
23.4 3.3 3.3
23.0
94.3 99.0 10.2
73.6 7.9
47.6 45.1 5.2 5.6 5.5
9M19 9M20 9M21 9M22 9M23 1Q23 2Q23 3Q23 9M19 9M20 9M21 9M22 9M23 1Q23 2Q23 3Q23
All units in ‘000
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Financial Performance
Consolidated
NET REVENUE EBITDA
EBITDA Margin
Net Core Revenue (Rp B) (Rp B,% Margin)
Covid EBITDA
Net Covid Revenue
Core EBITDA
+11% 34%
+49%
1.186
1.082
4% 394 24%
29% 961 22%
251
18% 171
644 608 23
169 15%
96% 12
100% 145
71% 140
100% 96% 229
224
140 156 145
9M19 9M20 9M21 9M22 9M23 9M19 9M20 9M21 9M22 9M23
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Balance Sheet
Remains healthy
CASH VS DEBT NET DEBT-TO-EBITDA
(Rp B) (x)
Net
418 -135 -216 225 395
Debt
2.2x
1.019 1.7x
830 855
0.7x
625 613 629 624
518 490
100
-0.6x -0.4x
2019 2020 2021 2022 9M23 2019 2020 2021 2022 9M23
AR Days
WORKING CAPITAL DAYS
Inventory Days 58
53
AP Days
46 43
36
29 29 30 29
19 16 20
9 10 13
2019 2020 2021 2022 9M23
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IVF Cycles
Initiatives in progress to increase cycle performance
# OF IVF CYCLES (‘000)
+5%
4,25 4,35
3,82
3,64
2,73
9M19 9M20 9M21 9M22 9M23
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Diagnos
Focusing on genomic testing
Covid
# OF TESTS (‘000)
265 Non Covid
239
35% 170
214
11% 172 163 175 2%
20%
8% 5% 2% YoY Non Covid
22% Test Volume
89%
65% 80% 92% 95% 98%
78%
1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23
Promising Genomic revenue YoY
REVENUE (in bn rupiah) Covid Revenue increased by 61% in line with genomic
5.8 volume increased by 62% YoY
Genomic Revenue
5.0 Others Test
4.7
47% 18%
3.9 3.8
31%
29% 8%
13%
3.4
3.6
7%
61%
7% 15% 11% 13% YoY Genomic
5% 11%
8% Revenue
74%
49% 64% 72% 80%
61% 77%
1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23
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Strengthening Our Core
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Strengthening Our COEs
GynROSE Clinic Robotic Surgery Bunda Neuro Center ERAS
NICU/PICU Laparoskopi Bunda Health Center RSM Oncology
Bunda General Hospital
Bunda Women & Children Hospital
Jakarta
Klinik Tumbuh Kembang Anak Bunda Endoscopy Center
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Ensuring Standardised Quality Process
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2023 Outlook
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2023 Key Focus Area
3
2 4
Improve the performance of 1 3 Optimize productivity and
our newly acquired hospitals performance of our network: KFI
(satellite clinics for Morula) and
1 Diagnos lab outlets
5
Continue with cost efficiency 2 Key Focus 4 Enhance our competitive edge
initiatives to maintain margin through better service, better
Area medical outcome and technology
2023
5 Selectively pursue growth opportunities
through M&A
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Our New Hospitals Performance
172 60++ 2 1
Beds Specialist Doctors W&C Hospitals General Hospital
Net Revenue EBITDA Financial optimization
• +81% revenue and EBITDA grew from Rp-
48.304 9Bn to Rp -0.8Bn. On track to record
-755 EBITDA 0 in FY23
• 3Q23 new hospitals recorded positive
+81% EBITDA +0.4bn
26.631 Operational excellence
+92%
• Synchronized patient experience for all
new hospitals
• Ongoing weekly medical review, and
medical training
Data IT
-8.927
• Implemented our IT software to all our new
9M22 9M23 9M22 9M23 hospitals
Our new Hospitals : RSIA Az Zahra Palembang, RSU Citra Harapan, RSIA Bunda Denpasar, (RSIA Pusura Tegalsari on renovation)
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Annualized Cost Efficiency
BPJS Update Identified potential improvement
With intensive quality and cost control for BPJS services, update from one of our hospital result in Mar-23 (before)
and Sep-23 (after) resulted improvement in our Gross Margin and EBITDA Margin
Mar-23 Sep-23 Improvement
Rp 8 Bn
Cost Efficiency
GPM (%) 47% 52% +5pps
EBITDA
28% 31% +3pps
Margin (%)
Done: 1 Hospital
To be roll out in our 4 other hospitals
Target: Dec-23
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Annualized Cost Efficiency
Key value Identified potential improvement
✓ Equipment cost transformation saving
• 5-10% cost saving per specific specialization through purchase medical Rp 10 Bn
Cost Efficiency
equipment, negotiation, and formulary change
✓ Asset tracking and utilization improvement
Rp 9 Bn
• Enhance tracing and leverage analytics Cost Efficiency
✓ Continuous analyze GPM per specialization
Rp 11 Bn
• Close review and monitoring margin per patient every month for Cost Efficiency
continuous margin improvement
Rp 38 Bn
Total Cost efficiency
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Hospitals 2023 Initiatives
Hospitals initiatives Timeline
✓ Doctor partnership recruitment for our new hospitals Quick win
✓ RS Bunda Menteng - Branding as family integrated care hospital Quick win
✓ Focus to engage B2B Market & Community Quick win
Hospitals
✓ Increasing referral from all potential channels Quick win
✓ Medical equipment enhancement Mid-Long
✓ Increasing seamless patient journey Quick win
✓ Increasing patient engagement Quick win
✓ Increasing cross selling program Quick win
Notes: Quick win : less than 6 months, Mid-Long: 6 months – 1+years
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Update Hospitals Result Initiatives
Per payor:
9M22 9M23
Hospitals improvement perspective:
6% 0% • Increased +4pps in Corporate and Insurance
Kemenkes 14% 20% payor align with our initiatives
38% 42% • Bunda well-known for OBGYN and Pediatric
BPJS
specialization, this year we see other specialistic
OOP are improving YoY (see table below)
Corp & Ins 38% • Revenue contribution from non OBGYN and
42%
Pediatric in 9M23 was 49% (+2pps than 9M22)
Per Specialistic:
Internist Orthopedic Neurology ENT Cardiology Digestive
+19% +35% +30% +46% +32% +110%
9M22 9M23 9M22 9M23 9M22 9M23 9M22 9M23 9M22 9M23 9M22 9M23
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Morula 2023 Initiatives
Action plan Timeline
✓ Operational efficiency and focus on top generated Quick win
Improve internal business process
clinics
✓ Seamless patient journey Quick win
Enhanced Brand Morula Positioning
✓ OneBunda platform integration
Personalized patient & medical ✓ Personalized protocol and product package Quick win
journey ✓ Increase conversion rate from New Female Patient
Quick win
Expand Business Ecosystem ✓ Exploring B2B partnership
Quick win
Advance Technology Product ✓ Focus on new technology including genomic
Notes: Quick win : less than 6 months
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161.243
(Existing Non-BPJS Patients) As of 30 September 2023,
41%
Of existing Bunda's patients (non BPJS)
have registered and used OneBunda
Most Frequently Used
Features is Janji Temu that
generate
~40K Transaction
65.765
OneBunda’s Unique Users
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2023 Network Planning RSIA Bunda Jakarta Renovation RSIA Bunda Denpasar Bunda Morula Nusa Dua Building renewal & rejuvenation for our Fully operate as W&C Hospital in Mar23. Morula add presence in Bali area to cater signature hospital. Expect to finish early Type C hospital with 25 bed capacity. domestic and tourist patient. Currently 2024. operate as outpatient clinic.
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THANK YOU
Disclaimer:
Presentation are intended for educational purposes only and do not replace independent professional
judgement. Statements of fact and opinions are those of the participants individually and, unless expressly
stated to the contrary. Specific data in this presentation was obtained from various external data sources, and
the Company has not verified such data with independent sources. Accordingly, the Company
makes no representations as to the occurrence, accuracy or completeness of that data, and such data involves
risks and uncertainties and is subject to change based on various factors.
PT Bundamedik Tbk
Jl. Teuku Cik Ditiro No. 28
Menteng, Jakarta Pusat
1-500-799|info@bmhs.co.id
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