Paul Singer’s activist investment firm Elliott Investment Management is seeking a stake in Integrated Diagnostics Holding (IDH), a London-listed healthcare company operating across the Middle East and Africa, according to a report by Bloomberg.
Elliott has entered into an agreement to acquire private equity firm Actis GP LLP’s entire 21.67% holding in IDH through a special purpose vehicle, subject to regulatory approvals. The stake, based on IDH’s market value of roughly $400m, is valued at about $87m.
IDH provides clinical pathology and radiology services across 700 branches in Egypt, Jordan, Nigeria, Saudi Arabia, and Sudan. The company is targeting expansion into new Middle Eastern, African, and East Asian markets with similar healthcare demand and fragmented competition.
Elliott, one of the world’s largest hedge funds with $76bn in assets under management, has built a reputation for opportunistic investments ranging from distressed consumer stocks to emerging-market debt. IDH’s board has not yet interacted with Elliott regarding the deal, according to a company statement.
