REG - Integrated Diag Hdgs - CFO & Strategic Investment Officer Appointments

Integrated Diagnostics HoldingsAnnouncement

21/06/2023 11:30

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RNS Number : 4666D  Integrated Diagnostics Holdings PLC  21 June 2023

IDH appoints new Chief Financial Officer and Strategic Investment Officer

21 June 2023

(Cairo and London) - Integrated Diagnostics Holdings ("IDH," "the Group," or
"the Company"), a leading provider of diagnostics services with operations in
Egypt, Jordan, Nigeria and Sudan, announces the appointment of Ahmed El
Gebeily as Group Chief Financial Officer, effective 15 August 2023. His
appointment will follow the departure of IDH's long-term VP Finance and
Strategies and Group Chief Financial Officer, Omar Bedewy, on 30 June 2023.
Bedewy has been with IDH since 2016 and has played a vital role in the
Company's growth and expansion in recent years. IDH is also excited to
announce the appointment of Sherif El Etreby, who will fill the role of Group
Strategic Investment Officer, effective 15 August 2023.

During the transition, Bedewy, along with the rest of IDH's management team,
is committed to ensuring an efficient handover of responsibilities, remaining
diligent in the Company's transitional phase until El Gebeily effectively
assumes his role as Group Chief Financial Officer. Following Bedewy's
departure, Ahmed Sileem will fill the position of Interim Chief Financial
Officer until El Gebeily fills the role on 15 August 2023. Sileem currently
serves as Regional Financial Controller at IDH and has been with the Company
since 2012.

El Etreby, filling the new role of Group Strategic Investment Officer, will be
responsible for developing and directing the Group's strategy pillars and
long-term outlook, identifying potential opportunities for business expansion.
This new position was created in line with IDH's continuous efforts to
identify and maximise long-term growth across its current and potential
markets.

Dr. Hend El Sherbini, Group Chief Executive Officer, commented: "On behalf of
IDH's Board of Directors and management team, I would like to thank Omar for
his invaluable contributions to the Company over the past seven years, and his
pivotal role in our growth story. Omar has been an exceptional leader within
IDH's walls since he first joined in 2016 and has helped navigate the Company
through some of its most challenging times. We wish him all the best in his
future endeavours.

"In the coming weeks, and along with the rest of the management team, I will
prioritize the smooth continuation of all our business operations, as well as
safeguard an effective handover to our next CFO, who will surely continue to
play as pivotal a role as Omar has in the past years. I am excited at the
level of experience that both additions to our management team bring with
them. Both Ahmed and Sherif are experienced executives with unique skills and
expertise, and I have the utmost confidence in their ability to further guide
IDH in its future growth plans and their ability to lead within the IDH
family. The addition of the Strategic Investment Officer role to our team
marks a new era for IDH, and further reaffirms our commitment to delivering
strategic growth wherever possible." Dr. Hend added.

Commenting on his departure, Omar Bedewy, Chief Financial Officer, said: "I am
truly grateful for the incredible journey I have had during my tenure at IDH.
It has been an absolute privilege working alongside a talented and dedicated
team throughout the years. Together, we have accomplished remarkable
milestones that have cemented our position as a leading healthcare provider in
all our markets. Over the coming weeks, I remain committed to seeing the full
handover of my roles and responsibilities to my successor to ensure continued
success for IDH under his guidance.

"As I move on from my role, I want to express my heartfelt wishes for IDH's
continued success and future growth. I have the utmost confidence in the
organization's ability to navigate the evolving healthcare landscape and
continue to make great strides in the future. I will continue to follow IDH's
progress and celebrate its achievements with immense pride as it continues
touching lives and remaining on the front lines providing quality healthcare
in the region." He added.

Ahmed El Gebeily Bio

El Gebeily is a senior executive finance director with nearly three decades of
experience and a successful track record in business start-ups in various
international and local settings, including construction, building material
industries, among others. He currently serves as the Chief Financial Officer
at Egyptian Industrial Investment Group.

His previous experiences include Senior Executive Finance Director at Egyptian
Steel Group, Regional Finance Director at Lafarge Middle East and Africa, and
Head of Finance for New Projects at Orascom Industries - Cement Division.
Prior to these roles, El Gebeily held several positions with Kharafi Group,
where he was stationed in several countries, including Albania, Syria, South
Africa and Mozambique.

He boasts a unique set of skills and experience, including experience in
company management, holding restructuring and liquidation, designing
accounting systems, ERP implementation, and company registration processes.

During his tenure, he gained strong exposure in acquisitions, due diligence,
post-purchase audits, joint venture management, sale and purchase agreements
(SPA), shareholders loan agreements, as well as the management and setup of
full Financial Shared Services Centre (FSSC), both locally and regionally.

El Gebeily's skills also include project financial management, costing and
contract negotiation, and closure. He is an expert with internal control
functions, budget monitoring, and performance analysis, as well as corrective
measure implementation. He has strong experience in tax optimisation, tax
disputes, and tax refunds in several countries. Finally, El Gebeily is skilled
at knowledge transferring, team building, and training future generations for
leadership positions.

Sherif El Etreby Bio

El Etreby is a seasoned financial executive with over 25 years of experience
in the financial field, boasting several significant roles and major
achievements in banking institutions for 10 years. He currently serves as the
Senior Vice President of Investments at Egyptian Industrial Investment Group.

El Etreby's previous experiences include nine years as the Senior Planning
Executive at Egyptian Steel Group, as well as a member of the founding team of
Egyptian Cement Company during the same period. Prior to those roles, he
served as the Regional Controller for Special Projects - Middle East and
Africa at Lafarge, as well as Deputy Regional Business Controller for North
Africa and Head of Planning at Orascom Construction - Cement Sector.

He has been involved in major syndication loans facilities, acquisitions, and
divestments in the cement and steel sectors in the Middle East and Africa,
including the acquisition of Lafarge to Orascom Construction Industries -
Cement Sector in 2008. He was also involved in the sell down of the founder's
stack in Egyptian Steel Group to Al Ezz Dekheila Steel Co. in 2021.

 

-Ends-

 

About Integrated Diagnostics Holdings (IDH)

IDH is a leading diagnostics services provider in the Middle East and Africa
offering a broad range of pathology and radiology tests to patients in Egypt,
Jordan, Nigeria and Sudan. 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 552 branches as of 31 December 2022, IDH
served over 8.7 million patients and performs more than 32.7 million tests in
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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