REG - Integrated Diag Hdgs - IDH Strengthens Egyptian Radiology portfolio

Integrated Diagnostics HoldingsAnnouncement

Yesterday 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250620:nRST6380Na&default-theme=true

RNS Number : 6380N  Integrated Diagnostics Holdings PLC  20 June 2025

Integrated Diagnostics Holdings PLC Strengthens Egyptian Radiology Portfolio
with Radiotherapy Expansion

20 June 2025

(London) - Integrated Diagnostics Holdings ("IDH," "the Group," or "the
Company"), a leading provider of diagnostic services with operations in Egypt,
Jordan, Nigeria, Saudi Arabia, and Sudan announced today that its Egyptian
radiology subsidiary, Al Borg Scan, has successfully completed a strategic
acquisition of CAIRO RAY for Radiotherapy, a radiology and radiotherapy
facility in East Cairo, Egypt for a total consideration of EGP 400 million.
The acquisition represents a landmark step forward in realizing the Company's
long-term vision of building an established radiology offering alongside its
already market-leading pathology business.

The 2,000 sqm medical facility, which is located within a medical hub in the
capital city's affluent New Cairo neighbourhood, offers patients a broad range
of radiology and radiotherapy services, allowing IDH to grow its radiology
portfolio while adding a new, high-potential service to its offering. As part
of the deal, the Group will be acquiring an operating radiotherapy business
and the medical facility's real estate assets, radiotherapy equipment, human
resources and commercial agreements. With this latest addition, Al Borg Scan's
branch network stands at eight locations, all strategically located to serve
Greater Cairo's most affluent and underpenetrated neighbourhoods.

By venturing into radiotherapy, IDH is looking to capitalize on the
accelerated growth witnessed in the sector in recent years while continuing to
serve patients in its chosen markets with increased access to life-saving
diagnostic services and treatments. Despite the sector's appealing growth
profile supported by Egypt's aging population coupled with increasing cancer
prevalence, supply in the segment continues to trail demand, offering new
entrants and existing players attractive future expansion opportunities.

Dr. Hend El Sherbini, IDH CEO, commented: "This ambitious investment package
once more underscores our commitment to building a world-class radiology
business in our home market. Since Al Borg Scan's launch, we have witnessed
accelerated growth supported by strong underlying market fundamentals coupled
with a successful ramp up strategy executed by our team on the ground. By
further expanding our footprint and offering, we are looking to capitalize on
this favourable momentum to capture additional market share in the fragmented
and underserved radiology and radiotherapy segments while continuing to serve
our communities by ensuring we bring more specialized services and advanced
technology closer to their homes. We are confident that the newly acquired
facility will begin positively contributing to the Group's results in 2026,
with its full potential being realized in the coming year."

Since Al Borg Scan's initial launch in 2018, IDH has invested over EGP 600
million in the venture, with the company consistently delivering robust
results. Most recently, IDH's radiology venture continued to record remarkable
results with revenues expanding 45% year-on-year to record EGP 224 million in
FY 2024. Top-line growth was supported by a 22% year-on-year rise in radiology
scans performed, further highlighting the venture's growing popularity. This
acquisition positions Al Borg Scan to become a top-tier provider in the
burgeoning Egyptian radiology and radiotherapy market.

-Ends-

About Integrated Diagnostics Holdings (IDH)

IDH is a leading diagnostics services provider in the Middle East and Africa
offering a broad range of clinical pathology and radiology tests to patients
in Egypt, Jordan, Nigeria, Saudi Arabia, and Sudan. The Group's core brands
include Al Borg, Al Borg Scan and Al Mokhtabar in Egypt, as well as Biolab
(Jordan), Echo-Lab (Nigeria), Ultralab and Al Mokhtabar Sudan (both in Sudan),
and Biolab KSA (Saudi Arabia). With over 40 years of experience, 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
3,000 diagnostics tests. From its base of 628 branches as of 31 December 2024,
IDH served over 8.9 million patients and performed more than 39.2 million
tests in 2024. 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 targets expansion in appealing
markets, including acquisitions in the 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 (i) whose shares are admitted to the equity
shares (transition) category (previously, the standard listing segment) of the
Official List of the UK Financial Conduct Authority and admitted to trading on
the main market for listed securities of the London Stock Exchange (ticker:
IDHC) since May 2015.

 

Contact

Tarek Yehia

Investor Relations Director

T: +20 (0)2 3332 1126 | M: +20 10 6882 6678 | tarek.yehia@idhcorp.com
(mailto:tarek.yehia@idhcorp.com)

 

Important Notice

The information contained in this announcement is deemed by the Company to
constitute inside information as stipulated under the UK version of the Market
Abuse Regulation (EU) No. 596/2014 as it forms part of UK law by virtue of the
European Union (Withdrawal) Act 2018. Upon the publication of this
announcement, this inside information is now considered to be in the public
domain. MUFG Corporate Governance Limited, IDH's Company Secretary, is
responsible for the release of this announcement for the purposes of such
regulation.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFLFFSRLIALIE