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First REIT bought Siloam Hospitals Purwakarta

First REIT buys a 11% NPI yield hospital funded by cash and issuing of units. Nothing much to see here considering that you are buying a 30 mil asset to add to a 1 bil  asset base.

Announcement here

The proforma DPU looks rather low at 7.54 cents, which I cannot recall if 2012 dpu includes not the full 4 hospitals purchased  in the latest round of deals.


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Thursday 13th of March 2014

Sounded positive to me. Was a bit disappointed that the Lippo listed their PT Siloam International Hospitals (the hospital operator) in Jakarta instead of SG.

"" PT Siloam International Hospitals and its consolidated subsidiaries (“Siloam”, “it”) are the largest private hospital group in Indonesia in terms of number of hospital beds as of December 31, 2012, according to Frost & Sullivan. Siloam opened its first hospital in 1996 and has since expanded through building new hospitals as well opportunistic acquisitions of existing hospitals. As of April 30, 2013, it operated 13 hospitals, providing a comprehensive range of specialist medical services such as complex surgical procedures, as well as laboratory services, radiology and imaging services, fertility treatment, general healthcare services and diagnostic and emergency services in Indonesia. As of April 30, 2013, Siloam had a total bed capacity of 3,436 beds, 1,178 doctors (including 930 specialists) who provided services to patients at Siloam hospitals, and employed 2,607 nurses and other allied health personnel. Siloam plan to further expand its operations and presence through building new hospitals, expanding its existing hospitals and opportunistic acquisitions, with the goal of increasing its total bed capacity to 10,000 beds over the next five years. ""


Thursday 13th of March 2014

they say the hospital much like RMG is the better deal.

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