On April 1, 2024, Jinxin Reproductive Medicine Group Co., Ltd. (01951.HK) announced the signing of an equity investment agreement with Indonesia's PT Morula Indonesia (“Morula”). After the investment is completed, Jinxin Fertility will become Morula's largest strategic investor. At the same time, the two sides will reach strategic cooperation, achieve resource integration, and work together to develop the assisted reproduction industry market in Indonesia and Southeast Asia.
The population of Southeast Asia is huge and continues to grow. At the same time, with economic development, residents' consumption capacity is also increasing, and the assisted reproduction industry has great potential for growth.
Morula is the largest assisted reproduction medical group in Indonesia and began assisted reproduction business in 1997. After nearly 30 years of development, Morula now has 10 assisted reproduction centers in Indonesia. Morula belongs to PT Bundamedik Tbk (“Bundamedik”). Bundamedik was founded in 1973 and is currently one of the largest private maternity and pediatric specialty medical groups in Indonesia. It was successfully listed on the Indonesia Stock Exchange in 2021.
As a leading assisted reproduction and gynecology and pediatric specialist medical service group in China and the US, Jinxin Fertility Group's history can be traced back to 1951. After more than 70 years of development, the Group enjoys a good reputation in the field of assisted reproduction and women and children. It has developed into the largest private assisted reproduction professional institution in China, and has the largest assisted reproduction center on the west coast of the United States. Adhering to the assisted reproduction business as the core, Jinxin Fertility aims to actively expand the entire fertility cycle, and is committed to providing patients with the highest quality integrated fertility services. In June 2019, Jinxin Fertility was listed on the Hong Kong Stock Exchange, further accelerating its internationalization process. Currently, Jinxin Fertility's medical institutions are distributed in mainland China, Hong Kong, the United States, and Southeast Asia. In mainland China, it has 6 hospitals and co-manages 5 hospitals; in Hong Kong, China, it has 2 assisted reproduction and obstetrics and gynecology clinics; in the US, it operates 10 reproductive clinics through the HRC Reproduction Center; and in Southeast Asia, it has 1 assisted reproduction clinic in Laos.
With previous overseas investment and operation experience in the US, Hong Kong region, and Laos, Jinxin Fertility has achieved great results in promoting the transformation of overseas business organizations and improving operational efficiency. As a strategic partner of Jinxin Fertility, Morula's market share and success rate have continued to increase in the past, and has also shown the ability to continue to grow in the Indonesian market.
The founders of the two sides highly acknowledged the strategic significance and long-term value of this strategic cooperation, and both expressed confidence that by integrating the advantages of both parties, they will provide innovative and high-quality services in Indonesia and Southeast Asia to meet the growing needs of patients and jointly consolidate their leading position in the assisted reproduction industry in the region.
Founder Ms. Fan Yulan said, “This strategic partnership not only expands our medical network and increases our market share, but also provides better medical services to patients in the region. We will continue to work hard to bring our quality medical services to more patients and improve their health.”
Morula's president Dr. Ivan Rizal Sini said, “We are delighted to have reached this strategic partnership with Jinxin Fertility and look forward to contributing to the development of the industry in the region.”
This strategic cooperation not only fully demonstrates the vision and determination of the two sides to give full play to their respective advantages and promote the assisted reproduction market in Southeast Asia, but is also expected to improve the level of assisted reproduction technology and services in the region to benefit more patients.
Source: Official Account. Jinxin Fertility Investor Relations