Cairo – Mubasher: Integrated Diagnostics Holdings (IDH) has obtained a $45 million debt financing package from the International Finance Corporation (IFC).

The eight-year funding will help IDH finance its growth plans in new and existing markets and expand access to diagnostic services in high growth emerging markets, as well as its current presence in Egypt, Jordan, Nigeria, and Sudan, according to a statement on Tuesday.

Moreover, the loan will also be directed to expand the company’s medical services and test portfolio, especially testing for COVID-19 in Egypt and Jordan, in addition to expanding IDH’s branch network.

IDH’s CEO, Hend El-Sherbini, said the deal will help the company “deliver on its strategic objective of expanding access to high quality, affordable healthcare and diagnostic services in new and existing markets.”

“This new agreement further strengthens our existing long-term strategic cooperation that began with our co-investment in Nigeria, where we have jointly deployed millions of dollars to bring best-in-class medical diagnostic practices and technology to Africa’s most populous country,” El-Sherbini added.

The funding package is part of IFC’s strategy to support private health providers in the Middle East, Africa, and South Asia to meet the growing demand for healthcare services.