Investment Case

IDH is one of the Middle East and Africa's key healthcare operators, with a footprint covering Egypt, Jordan, Sudan and Nigeria. It has earned a trusted reputation in the region as a company committed to the provision of high-quality services from its base of over 400 branches. The company aims to be a leading healthcare provider in every community and region that it serves, becoming every doctor and patient's first choice for quality, accurate diagnostic testing and cost effective services.

… in an industry with favorable dynamics

The highly-fragmented and underpenetrated nature of IDH’s Middle East and African markets create a growth opportunity for the Group. Powerful structural growth drivers underpin a promising outlook for medical diagnostic services in these emerging regions, including: large, rapidly-growing populations; a high disease burden with an increasing prevalence of lifestyle-related medical conditions; and the heightened health consciousness of a rising middle class.

… backed by a scalable asset-light business model

IDH deploys an asset-light business model that enables the Group to grow in a capital-efficient manner. There are two strategic components to the model, one of which is a “Hub, Spoke and Spike” network of branch laboratories that is easily scalable. The other is key supplier relationships that also support rapid expansion without the Company having to purchase expensive medical diagnostic equipment.