Business
Investment in Nigeria's Echo-Scan
Investment in Nigeria's Echo-Scan.
About this update from Integrated Diagnostics Holdings Plc
[{"type":"text","content":"\n \nRNS Number : 1055Y Integrated Diagnostics Holdings PLC 01 December 2017 \n\nIntegrated Diagnostics Holdings Plc\nCompany Announcement\n \n1 December 2017\n \nThis announcement contains price sensitive information.\n \nIntegrated Diagnostics Holdings and Man Capital partner with the International Finance Corporation to invest in Nigeria's Echo-Scan \n \n· Dynasty Group Holdings is a joint venture between Integrated Diagnostics Holdings and Man Capital LLP\n· Dynasty and the International Finance Corporation (\"IFC\") have committed to invest significant capital in the business over the next four years\n· The strategy is to build a world-class integrated diagnostics business and vastly enhance Nigeria's healthcare offering\n \n(Jersey) Integrated Diagnostics Holdings (\"IDH\"), IDHC on the London Stock Exchange, the largest fully integrated private-sector provider of medical diagnostics services in Egypt, Jordan and Sudan, and Man Capital LLP (\"Man Capital\"), the investment arm of the Mansour Group, announced today their first investment in Nigeria's promising healthcare industry. \n \nThe investment will see Dynasty Group (\"Dynasty\"), a joint venture that is 51% owned by IDH, partner with the International Finance Corporation (\"IFC\"), a member of the World Bank Group, to invest in Eagle Eye Echo-Scan Services Limited (\"Echo-Scan\"), a leading medical diagnostics business based in Nigeria. \n \nThe transaction will see Dynasty acquire a majority stake in Echo-Scan and assume management control of the company, while both Dynasty and the IFC will invest USD 25 million to expand Echo-Scan's nationwide service offering, footprint, and quality standards. Over the coming year, Echo-Scan will refurbish and upgrade existing locations as well as significantly augment its number of branches. \n \nEcho-Scan's growing network of medical diagnostic laboratories is currently spread across 12 locations in six states. The investment from Dynasty and the IFC will help bring best-in-class medical diagnostic practices and technology to Nigeria, ensuring Echo-Scan delivers global-standard pathology and radiology services across Nigeria. \n \nDynasty will help service the significant demand for healthcare equipment and...