Egypt - Speed Medical (SPMD) intends to establish the first of its kind company to finance medical and pharmaceutical services in Egypt, according to the investment plan of Speed Medical’s CEO Mahmoud Lasheen after acquiring 25% of the capital.

Speed Medical will own 50% of the new entity, Speed Finance for Consumer Finance’s capital which will amount to EGP 25 million.

The listed company’s CEO has an ambitious investment plan as he targets Speed Medical to be a major shareholder Digital Wellnez Software SAE with 25,01%, in addition, invest EGP 22.5 million in Digital Wellnez during one year.

It also intended to increase the labs owned by the company and its sister company Masr Labs. Speed Medical also planned to acquire 150 beds following the end of Speed’s hospital construction and purchasing Al Safwa Hospital.

Earlier, Speed Medical signed a revenue-sharing agreement to manage the medical laboratory of Sharaf Hospital in the 10th of Ramadan City.

The Egypt-based medical lab operator is engaged in establishing, operating, and managing diagnostic laboratories, clinics, and hospitals.

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