Monday, 17 December 2018

IDH subsidiary Biolab signs agreement with Georgia Healthcare Group to establish a Mega Lab

The facility will be the largest of its kind in Georgia and the region with enough capacity to deliver high quality clinical and pathology tests to the country’s entire population

(Cairo and London) – Integrated Diagnostics Holdings (“IDH” or “the Company”), a leading consumer healthcare company with operations in Egypt, Jordan, Sudan and Nigeria, announced today that its Jordan-based subsidiary Biolab has entered into an agreement with Georgia Healthcare Group PLC (GHG) to establish a Mega Laboratory (Mega Lab) in the Georgian capital of Tbilisi.

Under the agreement, Biolab will provide GHG with (1) training and management services including the implementation of Biolab’s technological platforms and laboratory information management systems (LIMS) and (2) consultancy and support to achieve Joint Commission International Accreditation (JCI) for the Mega Lab within two years from the expected launch date.

Biolab will retain up to 10% equity ownership in the Mega Lab and will receive a fixed annual management fee and a share of annualized profits to cover costs and expenses, in addition to an annual service fee.

The 7,500 square meter, multi-disciplinary Mega Lab will be the largest of its kind in Georgia and the Caucasus region and will be equipped with state-of-the-art technology covering the full suite of clinical and pathology tests. The Mega Lab will initially serve GHG’s network of over 37 hospitals and 16 district polyclinics utilizing one-third of the facility’s capacity, with plans to develop a B2B network of healthcare providers outside the Group to reach full utilization.

Commenting on the agreement, IDH’s Chief Executive Officer Dr. Hend El Sherbini said:

“We are truly excited to be partnering up with Georgia’s leading healthcare group and help usher in a new level of service offering to the Georgian population as well as unlock Group-wide operational efficiencies for GHG. IDH’s decades-long experience and our position as the operators of the sole JCI-accredited Mega Labs in Egypt and Jordan allow us to provide the necessary know-how, technical training and systems to help this venture succeed. I wish to thank the team at GHG for placing their confidence in us, and I look forward to our Groups’ continuous collaboration and support.”