Indonesia Hospitals:A bit under the weather but still in good health

Indonesia has a population of 263 million, making it the fourth mostpopulous country in the world, but only 1,600 private hospitals. MitraKeluarga and Siloam are two of the largest operators in what is afragmented, under-served market. Favourable demographics, a newgovernment medical insurance scheme, and rapid urbanisation all pointto a bright outlook for providers of private medical services. We initiatecoverage on Mitra with a Buy rating and Siloam with a Hold rating.