Medical diagnostics institution leads in implementing a new monthly minimum wage at EGP 725
Continues to be sector employer of choice with overall employment increasing by nearly 100 per cent in last five years to more than 1,600 employees
Company prepares for next growth stage through national and regional acquisitions
Cairo, Egypt: February 19, 2012: Al Borg Laboratories, the Middle East's largest medical testing group, today announced a significant long-term investment in its employee base by implementing a company-wide minimum wage of EGP 725 per month. By setting this new standard for the industry in Egypt, the Cairo-based company has underlined its status as an employer of choice and a leader in the diagnostics industry.
A high-growth firm operating in the dynamic medical diagnostics sector, the group almost doubled its employee base, reaching a current total of more than 1,600 employees. This growth in staff numbers is a reflection of Al Borg's domestic growth and the ongoing implementation of its regional expansion strategy. Last year, Al Borg made two significant acquisitions - Ultralab in Sudan and Biolab in Jordan - allowing it to expand its reach into new markets and geographies.
"We are very pleased to announce this investment in our most valuable resource: the more than 1,600 people who contribute to the success of Al Borg here in Egypt and across all the markets we serve," said Ahmed Badreldin, Al Borg Vice Chairman. "As we continue to invest in new technology and automation for highest reliability and medical standards, we recognize that we must reward all our people for their hard work and dedication to the company."
Badreldin added: "Our new wage structure will ensure that staff, at every level, can better support themselves and their families as they pursue long-term careers at the Middle East's largest medical diagnostics institution. Al Borg continues to focus on market consolidation, with acquisitions planned in Egypt in the diagnostics sector, in addition to exploring joint venture opportunities in new markets such as Libya and Sub-Saharan Africa. Our people are a key element in supporting these expansion plans as we transform the company into a leading multi-national medical diagnostics business".
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About Al Borg Laboratories:
Al Borg was established in 1991 and is currently the largest private medical laboratory group in the Middle East with over 1,600 group employees in over 115 branches spread across Egypt, Jordan and Sudan. Al Borg controls about 25% share of the Egyptian private laboratory testing market, and is the market leader in hepatitis, molecular & genetic diagnosis. Al Borg was the first laboratory in Egypt to receive an international accreditation ISO 15189 for Total Quality Management. Abraaj Capital, through its Infrastructure and Growth Capital Fund, currently owns 90% of the shares of Al Borg through its $150m acquisition in May 2008. For additional information, please visit www.alborglab.com
© Press Release 2012
