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Mitra Keluarga shares plunge by 3%
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A trading floor of Indonesia Stock Exchange (IDX) building. (JP/Wienda Parwitasari)
H
ospital operator PT Mitra Keluarga Karyasehat (MIKA), saw its shares plunge by 3 percent to Rp 2.040 per share at the closing session of the Indonesia Stock Exchange (IDX) on Monday.
Mitra’s share price fluctuated between Rp 2.100 at its peak and Rp 1.950 at its lowest during the day.
Monday marked MIKA’s first trading day after the public learned about the Deborah incident.
Bina Artha Sekuritas senior analyst Reza Priyambada said the negative sentiment generated from the tragedy had affected the company’s performance in the bourse on Monday.
Reza added that the sentiment would depend on the hospital management’s response to the ongoing news coverage.
“The market sees the spiraling negative news. That’s why it has responded negatively. If there is an insufficient response from the hospital’s management, it is very likely that the negative sentiment will continue,” Reza said.
“The management can tell [the market] of its future plans in terms of expansion or capital expenditure, for example, to reassure the market that the incident has not affected its fundamental performance,” he said.
The death of the patient, Tiara Deborah Simanjorang, on Sept. 3 has attracted nationwide attention as the hospital allegedly refused to transfer the baby, who suffered from severe breathing difficulties, from the Intensive Care Unit (ICU) to the Pediatric Intensive Care Unit (PICU) because her parents could not pay the required advance payment.
The practice of asking for advance payments prior to providing treatment is commonplace in the country’s hospitals, including Mitra Keluarga, one of the largest hospital chains in the country.
Mitra management has apologized for the incident, and will return the money spent by Deborah's parent for the treatment.
