The future of Indonesian healthcare: Insights from Indonesia’s Minister of Health Budi Gunadi Sadikin and East Ventures’ Willson Cuaca
Indonesia’s healthcare sector is on the brink of a significant transformation, and the catalysts were brought to light during a fireside chat at the Tech in Asia Conference 2023 in Jakarta. The discussion, titled ‘The Future of Indonesian Healthcare,’ featured a candid conversation between Mr. Budi Gunadi Sadikin, Indonesia’s Minister of Health, and Willson Cuaca, Co-Founder and Managing Partner at East Ventures.
In the dialogue, Mr. Budi emphasized a well-known reality: millions of Indonesians seek healthcare services abroad in countries like Malaysia and Singapore every year. There is a big difference in healthcare spending, with Indonesia lagging by approximately US$300 per person compared to its neighboring nations. This discrepancy amounts to an enormous US$81 billion investment opportunity set to unfold over the next five years in Indonesia’s healthcare sector.
On this note, Willson announced that East Ventures just recently launched a healthcare fund, with an impressive amount of US$30 million. This fund is dedicated to supporting innovative healthcare solutions in the country, proving that both global and local investors and startups are keen on the sector.
Mr. Budi also discussed the recently passed healthcare reform bill, which he believes has the potential to propel Indonesia’s healthcare sector into a new phase of growth.
“The core objective of this reform is access, quality, and price. It will ensure that every Indonesian citizen has access to healthcare services, regardless of their location. It aims to align healthcare quality in Indonesia with international standards while maintaining affordability,” said Mr. Budi Gunadi Sadikin.
Once the bill is approved, and with unprecedented collaboration between public and private companies such as in the form of East Ventures’ healthcare fund, Indonesia’s healthcare sector is poised for a huge transformation in the next decade. This transformation addresses the critical issues of accessibility, quality, and affordability while opening the door to exciting investment opportunities.
The fireside chat can be rewatched on demand on our official YouTube channel, or click the video below.