Speed Medical plans to pump LE 400M in new investments

CAIRO – 5 August 2021: Speed ​​Medical allocated LE 400 million for investments and expansions for the company in the future plan.

The company added, in a statement to the Egyptian Stock Exchange,Thursday, that the plan includes increasing the number of Speed ​​Hospital beds in El-Obour with investments of LE 70 million, increasing the branches of Speed ​​laboratories by adding 60 branches with investments of LE 90 million, and increasing the branches of Misr laboratories by adding 90 branches at a cost of LE 140 million.

The plan also includes increasing Speed ​​Finance’s capital for consumer financing by LE 25 million, establishing a specialized clinic in the Fifth Settlement by about LE 5 million, and expanding in the new Al Safwa Hospital after completing the acquisition procedures by LE 70 million.

This came in response to the news published in a newspaper entitled "Speed ​​Medical intends to invest LE 400 million in 2022."

The company’s revenues rose during the first three months of 2021, recording LE 65.36 million at the end of last March, compared to LE 25.11 million during the same period in 2020.