​A play on the formalization of the healthcare space in MENA: As private
healthcare grows in capacity, and ‘sponsored’ and insured patients receive
improved coverage, demand for diagnostic testing grows in tandem. We see
14% industry growth in terms of volume by 2018
Scale economies, barriers to entry, and operating leverage should push RoE
upwards, away from peer set (16% 17e vs. 13%)
We initiate coverage with a Buy rating and a USD 4.5 TP (+26% vs. CMP)
Integrated Diagnostic Holding is a holding company fully integrated private sector provider of diagnostics services in Egypt, backed by an internationally accredited diagnostics service portfolio of over 1,000 diagnostic tests, a footprint spanning 354 branch labs as of Dec 31 2016. Co.'s core brands include Al Borg and Al Mokhtabar in Egypt, as well as Biolab in Jordan and Ultralab and Al Mokhtabar Sudan in Sudan. Co. also operates the Medical Genetics Centre brand in Egypt. Co. offers more than 1,000 diagnostic tests, ranging from basic tests (such as glucose testing for diabetes) to molecular tests for hepatitis and highly specialized DNA tests.
Established in 2007, Arqaam Capital is a specialist emerging markets investment bank, bringing regional and international product offerings to the emerging markets. Arqaam Capital combines international best practice with expertise in the markets in which we operate. Our primary role is to provide financial intermediation and create investment opportunities for frontier and emerging markets investors looking to invest in their own markets and abroad, as well as international investors seeking opportunities in target frontier and emerging markets. Arqaam Capital is headquartered in the Dubai International Financial Centre (DIFC), with additional offices in Libya, Lebanon, Egypt, and South Africa.
Arqaam Capital's research platform provides the largest coverage footprint of MENA equities and one of the largest on the African continent with a total of 300 stocks under coverage. Arqaam Capital is ranked as one of the leading research providers in the region - a reflection of its broad coverage universe, its in-depth and high quality research, as well the compelling investment ideas that the team generates. The analysts closely analyze their sectors and issue in-depth company and sector research while the strategy team connects the micro with the macro, focusing on index analysis, macroeconomics and strategy research.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.