{"id":549199,"date":"2022-09-07T04:00:36","date_gmt":"2022-09-07T04:00:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/07\/idh-wants-to-renegotiate-terms-for-pakistani-diagnostics-player\/"},"modified":"2022-09-07T04:00:36","modified_gmt":"2022-09-07T04:00:36","slug":"idh-wants-to-renegotiate-terms-for-pakistani-diagnostics-player","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/07\/idh-wants-to-renegotiate-terms-for-pakistani-diagnostics-player\/","title":{"rendered":"IDH wants to renegotiate terms for Pakistani diagnostics player"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>IDH wants to table a new offer for Islamabad Diagnostic Center amid econ<\/strong><strong>omic <\/strong><strong>woes in Pakistan:<\/strong> IDH is looking to renegotiate terms of its bid to <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/cd562dbe-d647-49dc-95b7-9a5e94966c90\">acquire a major stake<\/a> in one of Pakistan's largest diagnostics providers due to economic and political turbulence in the country, a company official told us yesterday.<\/p>\n<p><strong>IDH wants IDC:<\/strong> The LSE- and EGX-listed consumer healthcare firm in December signed a share purchase agreement that would have seen it acquire 50% of the <a href=\"https:\/\/idc.net.pk\/\">Islamabad Diagnostic Centre (IDC)<\/a> at a cost of USD 72.35 mn. The seller was UAE-based Evercare Group, a healthcare platform managed by global private equity firm <a href=\"https:\/\/www.tpg.com\/\">TPG<\/a> and backed by its <a href=\"https:\/\/therisefund.com\/\">Rise Fund<\/a>, which owns 100% of the Pakistani outfit through a special purpose vehicle. The transaction would have given IDH more than 80 labs across Pakistan.<\/p>\n<p><strong>The long-stop date for the acquisition had already expired: <\/strong>IDH told Evercare in late August that it was terminating the SPA after conditions precedent weren\u2019t met; the deadline for execution of the transaction had already been extended by three months, IDH said in disclosures to the <a href=\"https:\/\/ent.news\/2022\/9\/IDH-terminates-Islamabad-center-agreement.pdf\">EGX (pdf)<\/a> and the <a href=\"https:\/\/www.londonstockexchange.com\/news-article\/IDHC\/idc-termination-negotiations-ongoing\/15616171\">London Stock Exchange<\/a> yesterday.<\/p>\n<p><strong>IDH is still interested:<\/strong> The company is in ongoing talks with Evercare and is ready to sign a new share purchase agreement, it said in the filings. \u201cWe\u2019re not pulling the plug, we\u2019re renegotiating the terms in light of the recent developments in Pakistan,\u201d IR chief Nancy Fahmy told us yesterday, adding that IDH is still \u201cvery interested\u201d in the company.<\/p>\n<p><strong>A lot has changed in Pakistan in the past nine months:<\/strong> The removal of former prime minister Imran Khan has provoked a political crisis, economic headwinds have forced it <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/pakistan-finance-minister-imf-board-approves-release-over-11-bln-bailout-funds-2022-08-29\/\">to turn to the IMF<\/a> to avert debt default, and <a href=\"https:\/\/www.reuters.com\/world\/asia-pacific\/flood-hit-pakistan-works-prevent-overflow-biggest-lake-2022-09-06\/\">devastating floods<\/a> have left a third of the country underwater.<\/p>\n<p><strong>Market reacts<\/strong><strong>: <\/strong>EGX-listed shares remained unchanged at EGP 16.50, while LSE-listed shares fell some 2.2% to USD 0.80.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>IDH wants to table a new offer for Islamabad Diagnostic Center amid economic woes in Pakistan: IDH is looking to renegotiate terms of its bid to acquire a major stake in one of Pakistan's largest diagnostics providers due to economic and political turbulence in the country, a company official told us yesterday. IDH wants IDC: [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":549200,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[72,7115,1406,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-549199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam","tag-healthcare","tag-integrated-diagnostics-holding","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"d129189c-e55f-43c8-82fe-e03489d4f375","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/9\/146.jpg","photo_position":"above","related_issue":[549191],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>IDH wants to renegotiate terms for Pakistani diagnostics player - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/07\/idh-wants-to-renegotiate-terms-for-pakistani-diagnostics-player\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IDH wants to renegotiate terms for Pakistani diagnostics player\" \/>\n<meta property=\"og:description\" content=\"IDH wants to table a new offer for Islamabad Diagnostic Center amid economic woes in Pakistan: IDH is looking to renegotiate terms of its bid to acquire a major stake in one of Pakistan&#039;s largest diagnostics providers due to economic and political turbulence in the country, a company official told us yesterday. IDH wants IDC: [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/07\/idh-wants-to-renegotiate-terms-for-pakistani-diagnostics-player\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-07T04:00:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/146.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/07\/idh-wants-to-renegotiate-terms-for-pakistani-diagnostics-player\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/07\/idh-wants-to-renegotiate-terms-for-pakistani-diagnostics-player\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"IDH wants to renegotiate terms for Pakistani diagnostics player\",\"datePublished\":\"2022-09-07T04:00:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/07\/idh-wants-to-renegotiate-terms-for-pakistani-diagnostics-player\/\"},\"wordCount\":324,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/07\/idh-wants-to-renegotiate-terms-for-pakistani-diagnostics-player\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2022\/9\/146.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"healthcare\",\"Integrated Diagnostics Holding\",\"M&amp;A Watch\"],\"articleSection\":[\"M&amp;A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/07\/idh-wants-to-renegotiate-terms-for-pakistani-diagnostics-player\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/09\/07\/idh-wants-to-renegotiate-terms-for-pakistani-diagnostics-player\/\",\"name\":\"IDH wants to renegotiate terms for Pakistani diagnostics player - 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The LSE-and EGX-listed company announced yesterday in a regulatory filing (pdf)\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/432.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":613844,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/22\/idh-names-sherif-el-zeiny-as-its-new-cfo\/","url_meta":{"origin":549199,"position":2},"title":"IDH names Sherif El Zeiny as its new CFO","author":"enterpriseam admin","date":"22 January 2024","format":false,"excerpt":"The decision took effect January 2024","rel":"","context":"In &quot;Moves&quot;","block_context":{"text":"Moves","link":"https:\/\/enterpriseam.com\/egypt\/category\/newsmakers\/moves\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":635465,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/12\/05\/idh-man-capital-joint-venture-invests-in-nigeria\/","url_meta":{"origin":549199,"position":3},"title":"IDH-Man Capital joint venture invests in Nigeria","author":"enterpriseam admin","date":"5 December 2017","format":false,"excerpt":"INVESTMENT WATCH- Two Egyptian powerhouses have joined with the International Finance Corporation (IFC) to acquire a medical diagnostics business in Nigeria. Integrated Diagnostics Holdings (IDH) and Mansour Group investment arm Man Capital announced they are investing (pdf) in Eagle Eye Echo-Scan Services Limited, a leading medical diagnostics business based in\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":622006,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/25\/idh-reports-26-y-o-y-increase-in-net-profits-in-9m2018\/","url_meta":{"origin":549199,"position":4},"title":"IDH reports 26% y-o-y increase in net profits in 9M2018","author":"enterpriseam admin","date":"25 November 2018","format":false,"excerpt":"EARNINGS WATCH- Integrated Diagnostics Holdings (IDH) reported a 26% y-o-y increase in net profits to EGP 356 mn in 9M2018, according a regulatory filing (pdf). The consumer healthcare company\u2019s 9M2018 revenues were up 25% y-o-y to EGP 1.38 bn. IDH\u2019s focus on marketing efforts and test mix has \u201cseen us\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":580986,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/31\/this-evening-idh-calls-time-of-death-on-idc-acquisition-eurozone-did-better-than-expected-in-2022\/","url_meta":{"origin":549199,"position":5},"title":"THIS EVENING: IDH calls time of death on IDC acquisition + Eurozone did better than expected in 2022","author":"enterpriseam admin","date":"31 January 2023","format":false,"excerpt":"Good afternoon, wonderful people, and a very happy hump day to you all. We have another brisk news day here in Omm El Donia to mark the mid-point of the week \u2014 and the last day of January.THE BIG STORY TODAY IDH scraps IDC acquisition bid: LSE- and EGX-listed consumer\u2026","rel":"","context":"In &quot;WHAT WE\u2019RE TRACKING TONIGHT&quot;","block_context":{"text":"WHAT WE\u2019RE TRACKING TONIGHT","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-tonight\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/777.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=549199"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/549199\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/549191"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/549200"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=549199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=549199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=549199"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=549199"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=549199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}