Cairo, Egypt - 27 September, 2011: Al Borg Laboratories, the leading Middle Eastern medical diagnostics business headquartered in Egypt, announced today the   acquisition of a majority stake in Ultralab, the Republic of Sudan's leading laboratory diagnostics chain. This marks the fifth acquisition made by Al Borg since it was acquired by Abraaj Capital in 2008, and the second outside of Egypt. Last month, Al Borg announced the acquisition of Biolab, expanding its footprint into the Jordanian healthcare market.

Ultralab was established in 2008 and is today one of the largest and most respected medical laboratory chains in Sudan, employing over 70 personnel.  Ultralab currently operates 11 laboratories in Sudan covering Khartoum, Om Dorman, and Port Sudan regions.

"We are very pleased to formalize the partnership between Al Borg and Ultralab.  In the span of three years, Ultralab has developed into the most reputable and largest medical testing chain in Sudan and their inclusion into our portfolio will be of tremendous value to Al Borg as we further develop our regional expansion strategy. We are committed to driving Ultralab's business to its next phase of development by expanding its branch network and introducing new services to its fast growing consumer base" - said Sherif Shaheen, CEO of Al Borg Group.  

Commenting on the acquisition, Ahmed Badreldin, Al Borg's Vice Chairman and Senior Partner at Abraaj Capital, said "The diagnostics market in Sudan is in desperate need for high quality diagnostics services. Our aim is to provide reliable and accurate medical testing at affordable prices by transferring Al Borg's technical and operational know-how to Ultralab".

-Ends-

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 1,400 group employees in over 100 branches spread across Egypt and 25% share of the Egyptian private laboratory testing market. The Company is involved in a wide range of conventional and specialized tests 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

For further information, please contact:
Shaimaa Ibrahim
Media Relations Executive
Organizational Consultants
Telephone: +202 3305 0014
Fax: +202 3305 0024
Mobile: 010 777 4433
E-mail: sibrahim@oc.com.eg

© Press Release 2011