Tawasul
Mubasher TV
Contact Us Advertising   العربية

Speed Medical inks deal to manage Madina Group’s labs in Alexandria

Speed Medical inks deal to manage Madina Group’s labs in Alexandria
The deal will add three new branches of Speed labs in Alexandria
Speed Medical
SPMD
1.42% 1.46 0.02

Cairo – Mubasher: Speed Medical Company signed a cooperation agreement with Al Madina Fertility Medicine Company and Madina Group in Alexandria.

Under the deal, all medical labs owned by Madina Group, including Madina Hospital for Women, will be managed by Speed Labs, according to a bourse disclosure on Wednesday.

The contract also includes Madina Polyclinics Complex Laboratory and Madina Lab for Analysis.

The deal will add three new branches of Speed labs in Alexandria, which will contribute to increasing the company’s revenues by 7% annually.

During the first six months of 2020, Speed Medical Company achieved net profits of EGP 21.2 million, up from EGP 10.75 million in the year-ago period.