CFO & Strategic Investment Officer Appointments

Integrated Diagnostics Holdings PLC

21 June 2023

 

IDH appoints new Chief Financial Officer and Strategic Investment Officer

21 June 2023

(Cairo and London) - Integrated Diagnostics Holdings ("IDH," "the Group," or "the Company"), a leading provider of diagnostics services with operations in Egypt, Jordan, Nigeria and Sudan, announces the appointment of Ahmed El Gebeily as Group Chief Financial Officer, effective 15 August 2023. His appointment will follow the departure of IDH's long-term VP Finance and Strategies and Group Chief Financial Officer, Omar Bedewy, on 30 June 2023. Bedewy has been with IDH since 2016 and has played a vital role in the Company's growth and expansion in recent years. IDH is also excited to announce the appointment of Sherif El Etreby, who will fill the role of Group Strategic Investment Officer, effective 15 August 2023.

During the transition, Bedewy, along with the rest of IDH's management team, is committed to ensuring an efficient handover of responsibilities, remaining diligent in the Company's transitional phase until El Gebeily effectively assumes his role as Group Chief Financial Officer. Following Bedewy's departure, Ahmed Sileem will fill the position of Interim Chief Financial Officer until El Gebeily fills the role on 15 August 2023. Sileem currently serves as Regional Financial Controller at IDH and has been with the Company since 2012.

El Etreby, filling the new role of Group Strategic Investment Officer, will be responsible for developing and directing the Group's strategy pillars and long-term outlook, identifying potential opportunities for business expansion. This new position was created in line with IDH's continuous efforts to identify and maximise long-term growth across its current and potential markets.

Dr. Hend El Sherbini, Group Chief Executive Officer, commented: "On behalf of IDH's Board of Directors and management team, I would like to thank Omar for his invaluable contributions to the Company over the past seven years, and his pivotal role in our growth story. Omar has been an exceptional leader within IDH's walls since he first joined in 2016 and has helped navigate the Company through some of its most challenging times. We wish him all the best in his future endeavours.

"In the coming weeks, and along with the rest of the management team, I will prioritize the smooth continuation of all our business operations, as well as safeguard an effective handover to our next CFO, who will surely continue to play as pivotal a role as Omar has in the past years. I am excited at the level of experience that both additions to our management team bring with them. Both Ahmed and Sherif are experienced executives with unique skills and expertise, and I have the utmost confidence in their ability to further guide IDH in its future growth plans and their ability to lead within the IDH family. The addition of the Strategic Investment Officer role to our team marks a new era for IDH, and further reaffirms our commitment to delivering strategic growth wherever possible." Dr. Hend added.

Commenting on his departure, Omar Bedewy, Chief Financial Officer, said: "I am truly grateful for the incredible journey I have had during my tenure at IDH. It has been an absolute privilege working alongside a talented and dedicated team throughout the years. Together, we have accomplished remarkable milestones that have cemented our position as a leading healthcare provider in all our markets. Over the coming weeks, I remain committed to seeing the full handover of my roles and responsibilities to my successor to ensure continued success for IDH under his guidance.

"As I move on from my role, I want to express my heartfelt wishes for IDH's continued success and future growth. I have the utmost confidence in the organization's ability to navigate the evolving healthcare landscape and continue to make great strides in the future. I will continue to follow IDH's progress and celebrate its achievements with immense pride as it continues touching lives and remaining on the front lines providing quality healthcare in the region." He added.

Ahmed El Gebeily Bio

El Gebeily is a senior executive finance director with nearly three decades of experience and a successful track record in business start-ups in various international and local settings, including construction, building material industries, among others. He currently serves as the Chief Financial Officer at Egyptian Industrial Investment Group.

His previous experiences include Senior Executive Finance Director at Egyptian Steel Group, Regional Finance Director at Lafarge Middle East and Africa, and Head of Finance for New Projects at Orascom Industries - Cement Division. Prior to these roles, El Gebeily held several positions with Kharafi Group, where he was stationed in several countries, including Albania, Syria, South Africa and Mozambique.

He boasts a unique set of skills and experience, including experience in company management, holding restructuring and liquidation, designing accounting systems, ERP implementation, and company registration processes.

During his tenure, he gained strong exposure in acquisitions, due diligence, post-purchase audits, joint venture management, sale and purchase agreements (SPA), shareholders loan agreements, as well as the management and setup of full Financial Shared Services Centre (FSSC), both locally and regionally.

El Gebeily's skills also include project financial management, costing and contract negotiation, and closure. He is an expert with internal control functions, budget monitoring, and performance analysis, as well as corrective measure implementation. He has strong experience in tax optimisation, tax disputes, and tax refunds in several countries. Finally, El Gebeily is skilled at knowledge transferring, team building, and training future generations for leadership positions.

Sherif El Etreby Bio

El Etreby is a seasoned financial executive with over 25 years of experience in the financial field, boasting several significant roles and major achievements in banking institutions for 10 years. He currently serves as the Senior Vice President of Investments at Egyptian Industrial Investment Group.

El Etreby's previous experiences include nine years as the Senior Planning Executive at Egyptian Steel Group, as well as a member of the founding team of Egyptian Cement Company during the same period. Prior to those roles, he served as the Regional Controller for Special Projects - Middle East and Africa at Lafarge, as well as Deputy Regional Business Controller for North Africa and Head of Planning at Orascom Construction - Cement Sector.

He has been involved in major syndication loans facilities, acquisitions, and divestments in the cement and steel sectors in the Middle East and Africa, including the acquisition of Lafarge to Orascom Construction Industries - Cement Sector in 2008. He was also involved in the sell down of the founder's stack in Egyptian Steel Group to Al Ezz Dekheila Steel Co. in 2021.

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About Integrated Diagnostics Holdings (IDH)

IDH is a leading diagnostics services provider in the Middle East and Africa offering a broad range of pathology and radiology tests to patients in Egypt, Jordan, Nigeria and Sudan. The Group's core brands include Al Borg, Al Borg Scan and Al Mokhtabar in Egypt, as well as Biolab (Jordan), Ultralab and Al Mokhtabar Sudan (both in Sudan) and Echo-Lab (Nigeria). A long track record for quality and safety has earned the Company a trusted reputation, as well as internationally recognised accreditations for its portfolio of over 2,000 diagnostics tests. From its base of 552 branches as of 31 December 2022, IDH served over 8.7 million patients and performs more than 32.7 million tests in 2022. IDH will continue to add laboratories through a Hub, Spoke and Spike business model that provides a scalable platform for efficient expansion. Beyond organic growth, the Group's expansion plans include acquisitions in new Middle Eastern, African, and East Asian markets where its model is well-suited to capitalise on similar healthcare and consumer trends and capture a significant share of fragmented markets. IDH has been a Jersey-registered entity with a Standard Listing on the Main Market of the London Stock Exchange (ticker: IDHC) since May 2015 with a secondary listing on the EGX since May 2021 (ticker: IDHC.CA).

Learn more at idhcorp.com.

Contact

Nancy Fahmy

Investor Relations Director

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