REG - Integrated Diag Hdgs - Al-Borg Scan obtains ACR Accreditation

Integrated Diagnostics HoldingsAnnouncement

05/10/2022 13:00

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RNS Number : 9141B  Integrated Diagnostics Holdings PLC  05 October 2022

Al-Borg Scan's Nuclear Medicine and Ultrasound Units Earn Prestigious ACR
Accreditation

This landmark achievement sees IDH deliver on an important aspect of the
venture's ramp up strategy, better positioning it to continue capturing the
significant growth opportunities presented by Egypt's 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 that its radiology venture, Al-Borg
Scan, has obtained ACR (American College of Radiology) accreditation for its
nuclear medicine (NucMed) and ultrasound units. Al-Borg Scan is the first
radiology center in Africa, and one of the only radiology facilities in the
Middle East, to boast this prestigious certification.

ACR accreditation is widely considered one of the most prestigious
certifications for radiology service providers in the world. Through a
complete review of a facility's equipment, medical personnel and quality
assurance processes, ACR accreditation helps guarantee that patients receive
the highest level of image quality and safety. To obtain the certificate,
Al-Borg Scan underwent a rigorous examination of its facilities and
operational practices. Over the last two years IFC healthcare quality experts
worked with Al-Borg Scan to evaluate the baseline level of implementation of
quality standards as well as provided guidance on required improvements in
infrastructure, policies and processes to fully comply with ACR standards and
requirements.

Boasting this prestigious accreditation, is expected to generate multiple
advantages for the Company. On the one hand, it will help in obtaining
agreements with leading insurance providers and international organisation
looking to partner with internationally accredited service providers. On the
other hand, it will also enable the Group to attract a growing number of
increasingly quality-conscious walk-in patients to the Group. This is only the
latest international accreditation obtained by the Group, and will complement
the renowned CAP (College of American Pathologists) certificate earned by the
Group's Mega Lab back in 2018. It is worth highlighting that IDH continues to
be the only provider in Egypt to possess the CAP accreditation.

Dr. Hend El Sherbini, IDH's CEO, said: "The international accreditation of
Al-Borg Scan's NucMed and ultrasound units represents an important milestone
for both our fast-growing radiology venture and the Group as a whole, and once
more demonstrates our commitment to building Al-Borg Scan into a leading
radiology player capable of supplementing our more established pathology
offering. In line with this vision, over the last year we have rolled out four
new branches and expanded the venture's service offering, effectively
catering to the growing demand for high-quality radiology services in our home
market of Egypt. At IDH we take great pride in the world-class service quality
we deliver to our patients day in and day out, and I am certain that this
latest accreditation, which complements the CAP certificated boasted by our
Mega Lab in Egypt, will impart further assurance of quality and safety to our
valued patients."

Yasmine El-Hini, IFC Acting Country Manager for Egypt, commented: "The
innovation that IDH brings to Egypt will deliver better health outcomes for
patients. This accreditation builds on our long-time partnership with IDH to
help ensure that patients get world-class standard lab services here in
Egypt."

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
continuing to deliver outstanding results ahead of management's expectations.
Today, Al-Borg Scan operates a network of six branches covering all of Greater
Cairo, and has plans to add one more location before year-end 2022. In the six
months to 30 June 2022, the venture reported revenue of EGP 35 million, up 77%
year-on-year, on the back of an 85% rise in tests performed and a 77% increase
in patients served versus the same period of last year. Meanwhile, the
company's efficiency enhancement efforts continue to drive steady improvements
in profitability.

-Ends-

 

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
(http://idhcorp.com) .

 

Contact

Nancy Fahmy

Investor Relations Director

T: +20 (0)2 3345 5530 | M: +20 (0)12 2255 7445 | nancy.fahmy@idhcorp.com
(mailto:nancy.fahmy@idhcorp.com)

 

 

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