The Abraaj Group - a leading investor operating in global growth markets on Wednesday announced that it has partnered with Islamabad Diagnostics Centre, a leading diagnostics chain in Pakistan, through its Funds.
Founded in 2003 by Dr Rizwan Uppal, Assistant Professor of Medicine at Nafees Medical College, and his brothers Dr Imran Uppal and Dr Rehan Uppal, IDC is an affordable diagnostics business operating in 20 centers across Islamabad, Rawalpindi, Wah Cantonment and Hasanabdal. The company is looking to expand its presence across Islamabad, Rawalpindi and additional cities in the Punjab province, with the aim of expanding its presence to over 50 centers in the next five years.
Since inception, IDC has built a successful track record and is known for its latest imaging technologies, broad range of laboratory tests and quick turn-around times, with over 350 staff members and one of Pakistan's largest pool of qualified radiologists on its team. It is also the only diagnostic center in the capital that provides lab and imaging services on a 24/7 basis, 365 days a year.
IDC marks Abraaj's fourth investment in the diagnostics space globally and the first in Pakistan. Abraaj will leverage its expertise and relationships to help IDC roll out its presence across the Punjab region, develop partnerships with government and private hospitals, and expand its service offerings.
Commenting on the investment, Hisham Moussa, Managing Director, The Abraaj Group, said: "Increased healthcare awareness and a growing requirement for detecting lifestyle diseases is increasing the demand for diagnostics services across Pakistan. IDC is clearly positioned to capitalise on this growth, through its world class infrastructure and diagnostics technology, and its competent management team. This partnership is an important step for us in building our presence in the diagnostics space across South Asia."
Commenting on the investment, Dr Rizwan Uppal, Founder and Chief Executive Officer of IDC, said: "14 years ago, IDC started as a concept offering full medical diagnostics services on a 24-hours basis under one roof, with state-of-the-art technologies. We have grown at an exponential rate since then and we have ambitious expansion plans for the years ahead to serve wider population groups, augment the healthcare needs of the community and create more job opportunities. We look forward to the partnership with The Abraaj Group which has an outstanding track record in healthcare and are jointly committed to delivering on the growth plans for IDC."-PR
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