Arab Finance: Integrated Diagnostics Holdings (IDH) (IDHC) has backed out of a deal to purchase a 50% stake in Islamabad Diagnostic Centre in Pakistan, according to a press release on January 31st.
The company has informed Evercare IGA Holdings Limited, managed by TPG Inc, of this decision after negotiations that lasted for a year and a half.
On December 20th 2021, IDH signed an agreement to acquire a 50% stake in Base Consultancy, the holding company of Islamabad Diagnostic Centre from Evercare Group, managed by TPG and backed by The Rise Fund.
IDH is a 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, Al Borg Scan, and Al Mokhtabar in Egypt, as well as Biolab in Jordan, Ultralab, and Al Mokhtabar Sudan both in Sudan and Echo-Lab in Nigeria.