Integrated Diagnostics Holdings

Integrated Diagnostics Holdings (GB:IDHC) has released an update. Integrated Diagnostics Holdings has increased its stake in Biolab KSA to 79% after acquiring an additional 49% from Izhoor Holding Medical Company for USD 3.2 million. This strategic move aims to accelerate the company’s expansion in the Saudi Arabian market, which offers significant growth potential due to its large and underserved population. The acquisition is expected to strengthen IDH’s presence and enhance its service delivery in the region. For further insights into GB:IDHC stock, check out TipRanks’ Stock Analysis page. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

(Cairo and London) - Integrated Diagnostics Holdings ("IDH," "the Group," or "the Company"), a leading provider of diagnostic services with operations in Egypt, Jordan, Nigeria, Sudan, and Saudi Arabia, announced today the purchase of an additional 49.0% stake in Biolab KSA. The additional stake, previously held by Izhoor Holding Medical Company LLC ("Izhoor"), was purchased for a total consideration of SAR 12.0 million (USD 3.2 million). The transaction involved a one-time cash payment from IDH to Izhoor financed from IDH's existing cash. IDH's holdings in Biolab KSA following the transaction stand at 79.0% (versus its previous 30.0% stake), with the remaining 21.0% held by the Group's Jordanian subsidiary, Al Makhbaryoun Al Arab LLC ("Biolab"). Dr. Hend El Sherbini, IDH CEO, commented: "Since the launch of our Saudi Arabian operations in January 2024, we have been very pleased with the venture's ramp up, which continues to enjoy growing momentum as patients in the Kingdom discover the superior quality and experience delivered across our branches. By increasing our stake in the venture, we are eager to accelerate its expansion so that we can fully capitalise on the important growth opportunities offered by the large and currently underserved Saudi market. Looking ahead, we look forward to working closely with our long-time friends and partners at Biolab to ensure the new venture's success and provide patients around Saudi Arabia with the world-class quality and care that our communities have come to expect from the IDH and Biolab brands."

The transaction subject to CCP's approval. KARACHI: Global consumer health company Integrated Diagnostics Holdings (IDH) has bought a 50 per cent stake in Base Consultancy FZ LLC, the SPV that owns Islamabad Diagnostic Center (IDC). The purchase agreement was signed with the Evercare Group against a consideration of $72.35 million. However, the transaction is still subject to the approval of Competition Commission of Pakistan (CCP). Once processed, the transaction will result in IDC being a subsidiary of IDH which is aligned with the company’s strategy of penetrating underserved and fast growing emerging markets. With 80 centers across 30 cities, IDC stands as one of Pakistan’s largest integrated diagnostic providers. The company had impressive numbers for financial year 2021; it served around two million patients while also conducting around 3 million tests. The revenues for FY21 were $46 million recording a 208pc growth, EBITDA at $22.1 million and net profits of $13.7 million. As per the press release, IDH plans to finance the transaction through a combination of existing cash and committed debt facilities. The debt package includes the $45.0 million facility secured from IFC in May 2021, and an additional $15.0 million IFC syndicated facility from Mashreq Bank.