Prodia-backed medical diagnostics manufacturer PT Prodia Diagnostic Line Tbk (Proline) plans to raise up to 62.7 billion rupiah ($3.5 million) through an initial public offering, according to its prospectus with the Indonesia Stock Exchange.
Proline is affiliated with healthcare services group PT Prodia Widyahusada Tbk, one of Indonesia’s largest diagnostic laboratory operators. Prodia Widyahusada was listed on the Indonesia Stock Exchange in 2016, raising about 1.2 trillion rupiah in what was then one of the country’s largest healthcare IPOs. The company currently operates a nationwide network of clinical laboratories and remains a key shareholder in Proline ahead of the planned listing.
Proline is offering up to 522.9 million new shares, representing 30% of its enlarged capital, at an indicative price range of 100-120 rupiah apiece. At the top end of the range, the IPO could raise as much as 62.7 billion rupiah ($3.5 million). The shares are scheduled to debut on July 9 under the ticker PDRL, with PT Sucor Sekuritas acting as the sole underwriter.
The offering comes as the company seeks to expand production capacity and capitalise on growing demand for diagnostic testing products in Indonesia, supported by rising healthcare spending and government-led disease screening programmes.
Proline manufactures in-vitro diagnostic (IVD) products, including reagents and diagnostic testing equipment used by hospitals, public health centres, clinical laboratories and other healthcare providers. The company operates a manufacturing facility in Jababeka Industrial Estate, West Java, and has been producing diagnostic products for more than a decade.
“Indonesia’s IVD industry has positive growth prospects, supported by the government’s commitment to improving access to and quality of healthcare services,” the company said in the prospectus.
Proline currently serves more than 7,600 end users across Indonesia, including hospitals, community health centres, and clinical laboratories. Management believes there remains substantial room for expansion, noting that more than 47% of healthcare facilities and about 38% of district and municipal health offices nationwide have yet to become customers.
The company traces its roots to PT Dialine Systems Indonesia, which was set up in 2010 before being renamed PT Prodia Diagnostic Line in 2011. Prodia Widyahusada remains among its key shareholders ahead of the IPO.
Alongside the share sale, the company will allocate up to 36.6 million shares, equivalent to 7% of the IPO shares, under an employee stock allocation programme.
Financially, Proline reported revenue of 74.4 billion rupiah in 2025, up 26.8% from 58.7 billion rupiah a year earlier. Net profit rose 69.9% to 17 billion rupiah from 10 billion rupiah in 2024, while operating profit increased to 24.4 billion rupiah from 15.2 billion rupiah.
The improvement followed a sharp slowdown in 2024, when revenue and profit fell from 111.8 billion rupiah and 35.8 billion rupiah, respectively, in 2023.
