Cairo – Mubasher: Speed Medical Company has signed a memorandum of understanding (MoU) with El Dakhakhny Laboratories.

Under the MoU, Speed Medical’s name will be added to El Dakhakhny Laboratories, according to a bourse statement released on Thursday.

The medical laboratory testing company’s name will be changed to Speed El Dakhakhny Laboratories, the statement added.

Speed Medical said that it will manage El Dakhakhny Laboratories for a trial period before conducting an evaluation of a potential acquisition.

It is worth mentioning that Speed Medical’s profits totalled EGP 16.4 million in the January-September period of 2019 from EGP 10.99 million a year earlier.