May 10, 2021

Speed Medical to increase Al-Safwa Hospital capacity with investment cost of EGP 75M


ArabFinance: Speed Medical (SPMD) aimed to increase Al Safwa Hospital’s capacity to 150 beds from 67 beds with an investment cost of EGP 75 million, Alborsa News cited the company’s chairman Mahmoud Lasheen.

This plan will be implemented once the company acquired the hospital.

The listed company intended to add three floors to Al Safwa’s building to be operated during 2021, Lasheen added.

Speed Medical targets to increase the number of Speed laboratories to 140 branches by the end of 2021 and specialized clinics to three, Lasheen added.

He also said that Speed Hospital is expected to operate in July after raising its capacity to 140 beds from 65 beds.

Speed Medical posted a consolidated net profit of EGP 40.924 million in Quarter one 2021.

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

arabfinance


Categories : healthcare

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