Integrated Diagnostics Holdings PLC IDH launches sixth Al-Borg Scan Branch (9166B)
October 05 2022 - 8:09AM
UK Regulatory
TIDMIDHC
RNS Number : 9166B
Integrated Diagnostics Holdings PLC
05 October 2022
IDH launches sixth Al-Borg Scan Branch in Cairo's Maadi
Neighbourhood
The launch, which is the second completed in 2022, comes as part
of a wider ramp up strategy enacted by IDH to capitalise on the
attractive growth opportunities offered by Egypt's underpenetrated
radiology segment
5 October 2022
(Cairo and London) - Integrated Diagnostics Holdings ("IDH,"
"the Company" or "the Group"), a leading consumer healthcare
company with operations in Egypt, Jordan, Sudan, and Nigeria,
announces the launch of Al-Borg Scan's sixth branch. The branch
will be located in Cairo's Maadi neighbourhood, further expanding
the venture's geographic reach and penetrating yet another
strategic and currently underserved neighbourhood. This is the
second Al-Borg Scan branch to be rolled out in 2022 and takes the
total number of radiology branches in Greater Cairo to six. The new
branch will be essential in further strengthening the Al-Borg Scan
brand and complement its existing locations.
In line with the other locations, the new branch will be
equipped with state-of-the-art radiology technology and will offer
a complete portfolio of radiology services, including magnetic
resonance imaging (MRI), computed tomography (CT), x-ray and
contrast studies, ultrasonography, echocardiography,
electrocardiography (ECG), electroencephalography (EEG),
electromyography (EMG), Gamma Camera, Positron emission
tomography-computed tomography (PETCT), in addition to panoramic
exams for jaws and teeth. As with all other Al-Borg Scan branches,
the new location will also provide patients with access to some of
the highest-ranking industry specialists in the country, offering
consultations and diagnostic reports from subject matter experts.
Finally, thanks to IDH's enhanced digital capabilities, results and
reports will be delivered to patients within 24 hours from the exam
through the Company's website and dedicated WhatsApp account.
Commenting on the launch, IDH CEO Dr. Hend El Sherbini, said:
"We are proud to have delivered on yet another step of our
ambitious ramp up strategy for Al-Borg Scan, bringing our
high-quality radiology services to growing number of patients. Over
the last twelve months, we have more than doubled the number of
Al-Borg Scan branches and successfully widened our footprint to
cover all of Greater Cairo. In parallel, we recently obtained ACR
(American College of Radiology) accreditation for both the
venture's nuclear medicine (NucMed) and ultrasound units, making
Al-Borg Scan the first radiology center in Africa, and one of the
only radiology facilities in the Middle East, to boast this
prestigious certification. While we are thrilled with our progress
thus far, our work has just begun, and over the coming year we are
aiming to roll out two to three additional branches and further
widen the venture's service offering as we look to capture a larger
share of the fast-growing Egyptian radiology market."
In the period from Al-Borg Scan's initial launch in 2018 to 30
June 2022, IDH has invested close to EGP 400 million in the
venture, with the company delivering impressive results from the
very start. Most recently, IDH's radiology venture continued to
record remarkable results with revenues expanding 78% year-on-year
to record EGP 35 million in 1H 2022. Top-line growth came on the
back of an 85% year-on-year rise in radiology tests performed and a
77% year-on-year rise in patients served, further testament to the
venture's growing popularity. Meanwhile, the company's efficiency
enhancement efforts helped further boost profitability which
continues to improve in line with management's expectations.
-End-
About Integrated Diagnostics Holdings (IDH)
IDH is a leading consumer healthcare company in the Middle East
and Africa with operations in Egypt, Jordan, Sudan and Nigeria. The
Group's core brands include Al Borg, Al Borg Scan and Al Mokhtabar
in Egypt, as well as Biolab (Jordan), Ultralab and Al Mokhtabar
Sudan (both in Sudan) and Echo-Lab (Nigeria). A long track record
for quality and safety has earned the Company a trusted reputation,
as well as internationally recognised accreditations for its
portfolio of over 2,000 diagnostics tests. From its base of 538
branches as of 30 June 2022, IDH will continue to add laboratories
through a Hub, Spoke and Spike business model that provides a
scalable platform for efficient expansion. Beyond organic growth,
the Group's expansion plans include acquisitions in new Middle
Eastern, African, and East Asian markets where its model is
well-suited to capitalise on similar healthcare and consumer trends
and capture a significant share of fragmented markets. IDH has been
a Jersey-registered entity with a Standard Listing on the Main
Market of the London Stock Exchange (ticker: IDHC) since May 2015
with a secondary listing on the EGX since May 2021 (ticker:
IDHC.CA). Learn more at idhcorp.com .
Contact
Nancy Fahmy
Investor Relations Director
T: +20 (0)2 3345 5530 | M: +20 (0)12 2255 7445 |
nancy.fahmy@idhcorp.com
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