Strategic investment and dual-structured capital raising transaction amounting to IDR 600billion for a certain interest in PT Bundamedik (BMHS Group).
PT Bundamedik was established in 1973 by the late Dr. Rizal Sini, Sp.OG, as a women and children hospital in Indonesia. The specialty integrated healthcare group is now run by the second generation under the leadership of dr. Ivan Sini, an internationally reknown gynecologist, who spearheads the corporate transformation, good governance and inspiring vision and expansion plan.
With over 48 years of serving Indonesia’s healthcare sector, BMHS is now a leading specialty healthcare provider in Indonesia with centers of excellence in premium women-and-children medical care and integrated healthcare ecosystem.
AvantGarde Capital completed a complex dual-structured capital raising transaction amounting to IDR600bn for a certain interest in BMHS. AvantGarde Capital acted as the financial adviser to both BMHS and the Shareholders in the overall strategic review, structuring and execution of the transaction.
The timing of this deal could not be more crucial when the COVID-19 pandemic hit the world, including Indonesia. Stepping up the Healthcare services and facilities is the key priority in Indonesia. Most of the proceeds from this deal was used to fund the development of new COVID-19 centers and accelerate the expansion plan. This deal would help BMHS to raise the much-needed capital at this testing time and help save many people's lives.
The deal generated strong interests from regional and global Investors, both financial and strategic. AvantGarde ran a two-phase competitive process to ensure the best terms and strategic fit. High volatility and uncertainties in the market and economic outlook due to the pandemic and bi-weekly rolling lockdown added to the complexity of the execution of the deal. However AvantGarde managed to navigate the process and the workstream, and successfully completed the transaction within effectively eight months from start to finish.