Egyptian Entrepreneur Hend El-Sherbini’s Firm Earns $84.5M Revenue in 2023

Egyptian healthcare provider Integrated Diagnostics Holdings (IDH) reported strong financial performance in 2023, exceeding revenue estimates.

The company, led by Egyptian businesswoman Hend El-Sherbini, posted EGP4.1 billion ($84.53 million) in consolidated sales, a 13.73 percent rise over EGP3.61 billion ($74.25 million) the previous year. This rise is especially significant given that COVID-19 testing accounts for 19% of IDH’s 2022 revenue.

IDH’s primary markets of Egypt and Jordan performed well, demonstrating the company’s strategic growth. While net profit for 2023 fell 11% year on year to EGP 468 million ($9.65 million), resulting in an 11% net profit margin, the company cites strong traditional business growth as a key driver.

Its conventional business, excluding COVID-19 testing, increased 42 percent in 2023, outpacing pre-pandemic sales levels by 89 percent. This segment’s revenue increased to EGP3.67 billion ($75.63 million) in 2023 from EGP2.179 billion ($44.93 million) in 2019.

CEO Hend El-Sherbini commented on the results, emphasizing IDH’s ability to handle a hard climate while delivering great growth. “The company experienced significant growth and profitability with 42-percent growth in the conventional business, representing 89 percent above pre-pandemic revenues of EGP 2.179 billion ($44.93 million) in 2019.” she noted, emphasizing the 42-percent conventional business expansion.

El-Sherbini also stated that IDH’s primary markets of Egypt and Jordan have experienced great development, signaling more possibilities. She expressed confidence in the company’s long-term growth plans, notably its emphasis on expanding traditional operations and managing the post-pandemic scenario.

IDH, headquartered in Saint Helier, Jersey, is a leading consumer healthcare firm in the Middle East and Africa (MEA) area. The organization has a network of 483 labs across four countries (Egypt, Jordan, Sudan, and Nigeria), cementing its position as Egypt’s leading diagnostic services provider.

El-Sherbini, Egypt’s leading businesswoman, owns a large 26.71 percent ownership (160,250,305 ordinary shares) in IDH and has played a key role in the company’s growth and transformation.

Leave a Reply