JAKARTA – PT Prodia Widyahusada Tbk (PRDA) takes an extra measure to secure supply chain of in vitro diagnostic (IVD) test tools by acquiring 39% of its affiliate, PT Prodia Diagnostic Line (Proline).

Said portion is taken over from PT Prodia Utama, which also the owner of 57% of PRDA, thus making this transaction categorised as affiliate transaction. For your information, prior to transaction, Prodia Utama controlled 90% of Proline’s shares.

Proline is a manufacturer of IVD tools under Prodia Group. “By acquiring a portion in Proline, the company can obtain greater control over chain supply,” said the management in the press release.

Quoting the information disclosure in Indonesia Stock Exchange (IDX) today (28/6), PRDA is reported spending IDR 72 billion to purchase 5,850 shares of Proline worth IDR 1 million each.

With PRDA’s equity recorded to IDR 2.36 trillion as of December 2023, the transaction value only reaches 3.05% of total equity. In other words, this transaction is not a material transaction.

“We have reviewed Proline’s performance, which showed great improvement from year to year, especially in 2023,” said Dewi Muliaty, President Director of PRDA, in the press release.

According to KJPP report, PRDA also projects an increase on net profit before elimination by up to IDR 20 billion in 2024 through this acquisition, from IDR 336.7 billion to IDR 346.7 billion.

As of now, Proline has one operating production facility in Jababeka, Cikarang, and is currently working on another to commercially operate in Q1 2025. Its products, including medical devices and test reagents, have been featured on e-katalog and are reported containing local content with an average of 40%. (ZH)