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.


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.


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



Nancy Fahmy

Investor Relations Director

T: +20 (0)2 3345 5530 | M: +20 (0)12 2255 7445 | nancy.fahmy@idhcorp.com



Forward-Looking Statements

This communication contains certain forward-looking statements. A forward-looking statement is any statement that does not relate to historical facts and events, and can be identified by the use of such words and phrases as "according to estimates", "aims", "anticipates", "assumes", "believes", "could", "estimates", "expects", "forecasts", "intends", "is of the opinion", "may", "plans", "potential", "predicts", "projects", "should", "to the knowledge of", "will", "would" or, in each case their negatives or other similar expressions, which are intended to identify a statement as forward-looking. This applies, in particular, to statements containing information on future financial results, plans, or expectations regarding business and management, future growth or profitability and general economic and regulatory conditions and other matters affecting the Group.


Forward-looking statements reflect the current views of the Group's management ("Management") on future events, which are based on the assumptions of the Management and involve known and unknown risks, uncertainties and other factors that may cause the Group's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. The occurrence or non-occurrence of an assumption could cause the Group's actual financial condition and results of operations to differ materially from, or fail to meet expectations expressed or implied by, such forward-looking statements.


The Group's business is subject to a number of risks and uncertainties that could also cause a forward-looking statement, estimate or prediction to differ materially from those expressed or implied by the forward-looking statements contained in this communication. The information, opinions and forward-looking statements contained in this communication speak only as at its date and are subject to change without notice. The Group does not undertake any obligation to review, update, confirm or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this communication.

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 or visit 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.