El-Sherbini’s IDH Reverses Purchase Of Share in Pakistan Diagnostics Company
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African CEOs - News around Africa - February 3, 2023

El-Sherbini’s IDH Reverses Purchase Of Share in Pakistan Diagnostics Company

Group CEO of Integrated Diagnostics Holdings (IDH), Hend El-Sherbini has rescinded the decision to purchase a 50 per cent stake in one of the largest integrated diagnostics providers in Pakistan, Islamabad Diagnostic Center (IDC). The renowned healthcare provider noted that the negotiations with IDC failed to yield positive results after eighteen months.

This development comes after IDH, led by the Egyptian multimillionaire businesswoman inked a sale and purchase agreement (SPA) to acquire a majority stake in IDC. 

El-Sherbini reportedly built her company from a lab founded by her mother in 1979. She is a professor of clinical pathology at the Faculty of Medicine, Cairo University. The Egyptian entrepreneur also has more than 30 years of experience in the health sector. 

Before taking her CEO role in 2012, the Egyptian business mogul served as the CEO of Al Mokhtabar for eight years. In 2022, Forbes reported that she was a member of the American Society of Clinical Pathology Board (Egypt) and served as a consultant on the international certification process. She presently controls a significant 26.1 per cent stake in IDH.  

Why El-Sherbini’s IDH reversed the purchase

The purchase was reversed due to unfavourable global economic conditions. Some of which include economic insecurity and lower growth rates. IDH also listed the inability to reach a consensus on the repatriation of funds as one of the major impediments. It noted that the repatriation of funds was critical to the success of the acquisition, and since it failed, negotiations collapsed. 

Note that El-Sherbini had initially stated that the transaction was in line with IDH’s regional expansion strategy. She noted that the strategy focused on high-growth markets that position the group to deliver exceptional quality care to a wide patient base.

What does IDH do?

Ranking as the largest diagnostics provider in Egypt, El-Sherbini’s IDH is a known consumer healthcare group located in the Middle East and Africa. It offers over 1,400 international-standard diagnostic tests. IDH has a branch network of 483 labs across four countries. 

The group grew into a major consumer healthcare group in the Middle East and Africa under the leadership of Hend El-Sherbini. It also facilitates operations in Egypt, Jordan, Sudan, and Nigeria. 

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