The Abraaj Group announced that it sold its remaining shares in Integrated Diagnostics Holdings or IDH in November 2015, fully exiting its position in the Integrated Diagnostics Holdings in the Egyptian diagnostics service provider. Details on how much the sale returned to Abraaj were not disclosed.
Abraaj has been gradually exiting its position in IDH over the last twelve months. In a partial exit in December 2014, the emerging markets private equity firm sold a 21% stake to Actis in an undisclosed deal, followed by a more significant stake sale in May 2015 when IDH was listed on the London Stock Exchange. According to the Emerging Markets Private Equity Association, Abraaj sold 46 million shares in the offering which was the first ever primary listing of an Egyptian healthcare business in London, returning $203 million to the private equity fund.
IDH is the largest fully integrated private sector healthcare diagnostics service provider in the Middle East and North Africa region, offering services including pathology and molecular diagnostics, genetics testing and basic radiology to patients and other laboratories operating through 290 branches and 4 central labs. The company was established in 2012 through the merger of Al Mokhtabar and Al Borg Laboratories. Abraaj made its initial investment in Al Borg Laboratories through one of its funds in 2008.