IDH to launch new Egyptian radiology business under Al Borg brand name
IDH to launch new Egyptian radiology business under Al Borg brand name: The London-listed Integrated Diagnostics Holdings (IDH) is launching a new radiology business in Egypt under the Al Borg brand name as part of plans to develop into a “one-stop shop diagnostics service provider,” the company announced in a press release yesterday (pdf). The company’s new facilities, Al Borg Scan, will be led by some of the country’s top radiologists and offer the complete range of radiology services using state-of-the-art equipment supplied by brands including GE Healthcare, Siemens, Hitachi, and Fujifilm.
Around 70% of the project’s costs are being covered by a EGP 130.5 mn, eight-year loan to Al Borg from Ahli United Bank, with operating cash flows covering the balance. "Our market in Egypt is growing in the double digits, and so is our top line,” said IDH CEO Hend El Sherbini. “Our expectation is that our pathology business will deliver new patients to our radiology business and that, in the fullness of time, having both services under one roof will also drive growth in our pathology test volumes.” IDH grew its top line 29% y-o-y in 1Q2018.