ArabFinance: Speed Medical (SPMD) announced withdrawing from the alliance, comprising Tawasol Holdings for Financial Investment and other investors, which aims to acquire Alexandria Medical Services - Alexandria New Medical Center (AMES) (Alex NMC), according to the companys filing to the Egyptian Exchange on May 30th.

The healthcare provider has sought to acquire a 10% stake in the medical center.

On the other hand, Tawasol Holdings has reached a consensual agreement to submit a purchase offer to acquire a 100% stake in Alexandria Medical Services.

In April, the Financial Regulatory Authority (FRA) received a letter from the Abu Dhabi Commercial Bank (ADCB) with the final list of potential buyers of the banks 51.54% stake in Alexandria Medical Services, including Cleopatra Hospitals Group (CHG) and Speed Hospitals-LimeVest Fund-Tawasol alliance.

Speed Medical posted a consolidated net profit of EGP 40.924 million in the first quarter of 2021.

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

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