Integrated Diagnostics Holding (IDHC) plans to open from 3 to 4 new radiology labs and 30 to 35 new branches this year.
The company is aiming for the usual capex spending that should represent around 6% of sales.
IDHC enjoys favourable working capital dynamics and CF structure, given that almost 70% of the company’s revenues is denominated in cash. Receivables days on hand for corporate revenues stand at around 90 days. For the supplies, days on hand are fixed, with no significant changes.
Furthermore, the company is committed to grow at the same pace, with 30 to 35 branches set to open per year and expanding their radiology business further by adding at least three radiology labs, bringing the total number of labs opened this year to seven.
The consolidation of IDC Pakistan will also act as a key revenue driver for IDHC in 2022, contributing 15% of overall performance and acting as a hedge against the expected normalisation of revenues in case COVID-related revenues start to slow down.
Another key trigger for revenues in 2022 is the growth in both conventional and COVID testing. Demand for COVID-related testing is taking different forms throughout the year, either driven by strong demand for testing or travel-related testing.
