Integrated Diagnostics Holdings PLC Launch of data-driven healthcare support (7365L)
10 September 2019 - 4:02PM
UK Regulatory
TIDMIDHC
RNS Number : 7365L
Integrated Diagnostics Holdings PLC
10 September 2019
IDH launches new subsidiary "Wayak" to offer data-driven
healthcare support
The new venture will utilise data analytics to capitalise on
IDH's vast database of over c.13 million patients and offer
targeted healthcare services
10 Sep 2019
(Cairo and London) - Integrated Diagnostics Holdings ("IDH,"
"the Group," or "the Company"), IDHC on the London Stock Exchange,
a leading consumer healthcare company with operations in Egypt,
Jordan, Sudan and Nigeria, announces the launch of its new
Egypt-based subsidiary "Wayak" to invest in data mining and
artificial intelligence platforms. Wayak will leverage the Group's
patient database to capture new growth opportunities in the
healthcare management space and offer targeted services to its
customers.
With a database covering more than 13 million patients, of which
c.10% suffer from chronic diseases, Wayak will allow IDH to build
electronic medical records of patients and better cater to their
needs with new value propositions. These include building patient
healthcare profiles, home-delivery of medications, diagnostics
testing reminders, referrals to service providers under IDH's
network with discounted prices as well as follow-up services,
amongst others.
Wayak is a joint venture that is 94% owned by IDH and 6% owned
by renowned data analytics scientist and angel investor Dr. Khaled
Ismail through his angel investment fund HIMangel. Dr. Ismail will
serve as the managing partner, acting as CEO for the first three
years of Wayak's operations. He previously served as the managing
director of Intel Mobile Communications and was a senior advisor to
the Egyptian Minister of Communications. Dr. Ismail holds a Ph.D.
in electrical engineering from the Massachusetts Institute of
Technology (MIT).
Commenting on the Joint Venture, Dr. Hend El Sherbini, Chief
Executive Officer of IDH, said "Wayak falls directly in line with
our strategy to diversify the Group's services and capture growth
opportunities in an underserved market with strong demand for
quality healthcare services. Our unique position with a vast
database of some 13 million patients and a nationwide presence
through our 420+ branch network will allow us to create our own
clinical profiles and leverage data analytics to build targeted
services. The new venture will extract favourable synergies from
IDH's current business, and we expect the new services to drive
additional pathology and radiology testing and create a new growing
revenue base for IDH while enhancing overall patient
experience."
"We are also particularly pleased to be partnering up with Dr.
Ismail who brings a wealth of executive and field experience in
data analytics along with a track record of start-up successes. We
look forward to working with him to help Wayak capture this
incredible market opportunity and contribute to the improvement of
Egypt's healthcare system," El Sherbini added.
-Ends-
Contact
IDH +20 (0)2 3345 5530
Sherif El-Ghamrawi, +20 (0)10 0447 8699
Investor Relations Director sherif.elghamrawi@idhcorp.com
Hudson Sandler (International Media
relations) +44 (0) 207 796 4133
Dan de Belder idh@hudsonsandler.com
Bertie Berger
About Integrated Diagnostics Holdings
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 and Al Mokhtabar in Egypt, as
well as Biolab (Jordan), Ultralab and Al Mokhtabar Sudan (both in
Sudan) and Echo-Scan (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
1,400 diagnostics tests. From its base of 424 branches as of 30
June 2019, 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 and
African 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.
IDH's forward-looking strategy rests on leveraging its
established business model to achieve four key strategic goals,
namely: (1) continue to expand customer reach; (2) increase the
number of tests per patient; (3) expand into new geographic markets
through selective, value-accretive acquisitions; and (4) introduce
new medical services by leveraging the Group's network and
reputable brand position. Learn more at idhcorp.com.
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END
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