ArabFinance: Speed Medical concluded Masr Beni Suef Labs acquisition by paying the remaining value of the deal worth EGP 9 million, according to a recent release filed to the Egyptian Exchange.

The deal includes the trade name, devices, movables, as well as lease and corporate contracts.

On January 13th, Speed Medical's board members agreed for the company to acquire the laboratories of Masr Beni Sueif as well as Qenas El Hayah Labs for a total value of EGP 14 million.

Speed Medical a consolidated net profit of EGP 49,081,717 in the January-September period of 2020, marking a 199% year on year leap.

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

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