REG - Integrated Diag Hdgs - IDH launches fifth Al-Borg Scan Branch

Integrated Diagnostics HoldingsAnnouncement

29/03/2022 08:30

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RNS Number : 2914G  Integrated Diagnostics Holdings PLC  29 March 2022

IDH launches fifth Al-Borg Scan branch in West Cairo's Capital Business Park

This marks Al-Borg Scan's third branch inauguration in the last six months,
and sees the Company further progress on its ramp up strategy which will see
Al-Borg Scan launch at least three more branches in 2022 as it works to
capture the important growth opportunities presented by Egypt's radiology
segment

29 March 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 fifth
branch. The branch will be located in West Cairo's Capital Business Park and
sees the Company further expand its radiology venture's geographic footprint,
penetrating a strategic and currently underserved neighbourhood. This is the
third Al-Borg Scan branch to launch in the last six months following the roll
out of a new branch in West Cairo's Faisal/Haram neighbourhood in December
2021, and of a new branch in East Cairo's Heliopolis neighbourhood in early
October 2021. The new branches will be essential in further strengthening the
Al-Borg Scan's brand equity and complement Al-Borg Scan's other two locations
in the centrally-located Mohandessin and Shoubra neighbourhoods.

In line with the other locations, the new branches are equipped with the
latest state-of-the-art radiology technology available on the market and will
offer a full-suite of radiology services, including but not limited to
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 (PET-CT), in addition to panoramic
exams for jaws and teeth. The branches will also provide patients with access
to some of the highest-ranking radiology specialists in the country, offering
consultations and diagnostic reports from subject matter experts. Finally, the
Company will leverage its enhanced digital capabilities to deliver results and
reports to patients within 24 hours from the exam through the Company's
website and its dedicated WhatsApp account.

Commenting on the launch, IDH CEO Dr. Hend El Sherbini, said: "We are thrilled
to announce the launch of Al-Borg Scan's fifth branch located in a strategic
and currently underpenetrated neighbourhood of West Cairo. The roll out
supports Al-Borg Scan's geographical expansion efforts and is directly in line
with our vision of providing patients across Greater Cairo with access to
state-of-the-art radiology services to supplement our more established
diagnostics offering. In the coming period, we are aiming to roll out at least
three additional branches for a total investment cost of EGP 200 million,
further expand our radiology service offering, and complete the necessary
modules to obtain ACR (American College of Radiology) accreditation for all
Al-Borg Scan's branches."

As at year-end 2021, IDH had invested more than EGP 250 million in Al-Borg
Scan since its launch in 2018, with the venture delivering impressive results
from the very start. More specifically, in 2021, Al-Borg Scan reported revenue
growth of over 80%, serving more than 60 thousand patients and performing
around 80 thousand tests. This represented a c.70% year-on-year increase in
both patients served and tests performed, further highlighting Al-Borg Scan's
strong momentum. Meanwhile, the company's efficiency enhancement efforts
helped further boost profitability which continues to improve ahead of
management's expectations.

-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 507 branches
as of 30 September 2021, 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 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) .

 

The person responsible for arranging the release of this announcement is Nancy
Fahmy, Investor Relations Director at IDH.

 

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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