Jinxin Fertility and Morula Announce Strategic Cooperation in Southeast Asia

CHENGDU, China, April 3, 2024 /PRNewswire/ -- On April 1, 2024, Jinxin Fertility Group Limited ("JXR") and PT Morula Indonesia ("Morula") are pleased to announce a strategic cooperation between both parties, following the execution of investment share subscription and purchase agreement, whereby JXR will become a significant shareholder of Morula upon the completion of the proposed equity investment.

As part of this strategic cooperation, JXR and Morula aim to leverage their mutual expertise and strengths in ARS to jointly capitalize on the sizeable untapped potential of the Indonesia and Southeast Asia IVF markets. This collaboration is a testament to JXR and Morula's belief in the market prospects arising from the robust economic growth and burgeoning local populations in the Southeast Asia region.

Morula started its operations in 1997 and after nearly 30 years of growth, Morula is the largest Assisted Reproductive Service ("ARS") specialty healthcare group in Indonesia, with 10 ARS facilities across the country. Morula is the IVF subsidiary of PT Bundamedik Tbk ("Bundamedik"), which was established in 1973 and has been listed on the Indonesia Stock Exchange since 2021. Bundamedik is one of the largest private Women & Children specialty healthcare groups in Indonesia.

JXR is a leading ARS and Women & Children specialty healthcare group in China and the United States. The history of JXR can be traced back to its start in 1951, and with its medical industry track record extending more than 70 years, JXR enjoys a stellar reputation in the fields of ARS and women & children healthcare services. It has become the largest private ARS provider in China, and the largest ARS provider in the West Coast of the United States. In June 2019, JXR was listed on the Hong Kong Stock Exchange, as part of plans to further grow its international presence. JXR currently has a strong global industry presence, through its ownership of 6 hospitals and co-management of 5 hospitals in the Chinese Mainland; 2 reproduction clinics in Hong Kong; 10 reproduction clinics operating under HRC Fertility in the United States, and 1 reproduction clinic in Laos. With ARS operations as its core focus, JXR is actively expanding into full life cycles offerings, and remains committed to providing its patients with the best quality integrated reproductive services.

JXR is well known for its visionary leadership and capability to navigate through various industry challenges, and has a proven track record of driving organizational transformation and growth of its international business operations. Morula, as JXR's strategic partner, has consistently demonstrated operational growth and considerable business success in Indonesia, as evident from Morula's market leading position in Indonesia and increasingly greater demand for its highly regarded ARS services.

The founders of both JXR and Morula recognize the importance and potential long-term benefits of this strategic cooperation. By combining JXR's and Morula's respective business strengths, JXR and Morula are positioned to build the market leading ARS operator in the region together, by offering innovative and high-quality services to meet the medical needs of their growing customer base in Indonesia and Southeast Asia.

Founders of JXR and HRC: "This strategic cooperation is not only about expanding our reach or increasing our market share. It is also about making a positive impact on the lives of people in the region. We are committed to bringing our innovative ARS services to more people and thus improving their lives."

Dr. Ivan Rizal Sini, President Director of PT Morula Indonesia added, "We are excited about this partnership with JXR and the opportunities it represents. We believe that together, we can achieve more and make a significant contribution to the region's economic growth."