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

Integrated Diagnostics HoldingsAnnouncement

05/10/2022 13:15

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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
(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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