Integrated Diagnostics Holdings PLC Al-Borg Scan obtains ACR Accreditation (9141B)
October 05 2022 - 6:49AM
UK Regulatory
TIDMIDHC
RNS Number : 9141B
Integrated Diagnostics Holdings PLC
05 October 2022
Al-Borg Scan's Nuclear Medicine and Ultrasound Units Earn
Prestigious ACR Accreditation
This landmark achievement sees IDH deliver on an important
aspect of the venture's ramp up strategy, better positioning it to
continue capturing the significant growth opportunities presented
by Egypt's 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 that its radiology venture, Al-Borg Scan, has obtained
ACR (American College of Radiology) accreditation for its nuclear
medicine (NucMed) and ultrasound units . Al-Borg Scan is the first
radiology center in Africa, and one of the only radiology
facilities in the Middle East, to boast this prestigious
certification.
ACR accreditation is widely considered one of the most
prestigious certifications for radiology service providers in the
world. Through a complete review of a facility's equipment, medical
personnel and quality assurance processes, ACR accreditation helps
guarantee that patients receive the highest level of image quality
and safety. To obtain the certificate, Al-Borg Scan underwent a
rigorous examination of its facilities and operational practices.
Over the last two years IFC healthcare quality experts worked with
Al-Borg Scan to evaluate the baseline level of implementation of
quality standards as well as provided guidance on required
improvements in infrastructure, policies and processes to fully
comply with ACR standards and requirements.
Boasting this prestigious accreditation, is expected to generate
multiple advantages for the Company. On the one hand, it will help
in obtaining agreements with leading insurance providers and
international organisation looking to partner with internationally
accredited service providers. On the other hand, it will also
enable the Group to attract a growing number of increasingly
quality-conscious walk-in patients to the Group. This is only the
latest international accreditation obtained by the Group, and will
complement the renowned CAP (College of American Pathologists)
certificate earned by the Group's Mega Lab back in 2018. It is
worth highlighting that IDH continues to be the only provider in
Egypt to possess the CAP accreditation.
Dr. Hend El Sherbini, IDH's CEO, said: "The international
accreditation of Al-Borg Scan's NucMed and ultrasound units
represents an important milestone for both our fast-growing
radiology venture and the Group as a whole, and once more
demonstrates our commitment to building Al-Borg Scan into a leading
radiology player capable of supplementing our more established
pathology offering. In line with this vision, over the last year we
have rolled out four new branches and expanded the venture's
service offering, effectively catering to the growing demand for
high-quality radiology services in our home market of Egypt. At IDH
we take great pride in the world-class service quality we deliver
to our patients day in and day out, and I am certain that this
latest accreditation, which complements the CAP certificated
boasted by our Mega Lab in Egypt, will impart further assurance of
quality and safety to our valued patients."
Yasmine El-Hini, IFC Acting Country Manager for Egypt,
commented: "The innovation that IDH brings to Egypt will deliver
better health outcomes for patients. This accreditation builds on
our long-time partnership with IDH to help ensure that patients get
world-class standard lab services here in Egypt."
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 continuing to deliver outstanding results
ahead of management's expectations. Today, Al-Borg Scan operates a
network of six branches covering all of Greater Cairo, and has
plans to add one more location before year-end 2022. In the six
months to 30 June 2022, the venture reported revenue of EGP 35
million, up 77% year-on-year, on the back of an 85% rise in tests
performed and a 77% increase in patients served versus the same
period of last year. Meanwhile, the company's efficiency
enhancement efforts continue to drive steady improvements in
profitability.
-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 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 .
Contact
Nancy Fahmy
Investor Relations Director
T: +20 (0)2 3345 5530 | M: +20 (0)12 2255 7445 |
nancy.fahmy@idhcorp.com
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