Last checked at 5 Oct 2022 12:49
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.
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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