London Stock Exchange welcomes Integrated Diagnostics Holdings Plc to the Main Market
Integrated Diagnostics Holdings Plc (“IDH”), the largest fully integrated private sector diagnostics services provider, including pathology and molecular diagnostics, genetics testing and basic radiology, in Egypt, is delighted to be joining the Main Market of the London Stock Exchange by means of primary listed ordinary shares.
The Group in 2013 had a private chain market share by revenue of 55 per cent. It also has operations in Jordan and Sudan and is considering expansion into additional countries in the MENA region in the near term. As at 31 December 2014, IDH operated 288 labs, and it performed 22.3 million tests for 5.6 million patients in 2014.
Egypt is the Group’s principal market, where it operates mainly through its Al Borg and Al Mokhtabar businesses, each of which is a well-known and market-leading brand with a loyal following, and together represented 88.5 per cent of IDH’s revenue in 2014. IDH’s other businesses, which together represented 11.5 per cent of IDH’s revenue in 2014, include Biolab, which operates in Jordan, Ultralab and Al Mokhtabar Sudan, both of which operate in Sudan, and the Molecular Diagnostic Center and Medical Genetics Center, both of which operate in Egypt.
Commenting on the listing, Dr. Hend El Sherbini, Chief Executive Officer of IDH, said:
“Today represents a key milestone in the IDH growth story. Our initial public offering will allow us to further accelerate our market penetration, increase our profile and brand recognition, expand our service offerings in our target markets as well as provide access to liquidity for our partners Abraaj and Actis. We warmly welcome our new investors to share in the next, exciting stage of our growth and development."