Cairo – Mubasher: Speed Medical Company announced that its 80.25%-owned subsidiary Speed Hospitals signed an alliance agreement with medical investment-specialised LimeVest Fund and Tawasol, a subsidiary of the Saudi Elaj Group, for the acquisition of Alexandria Medical Services - Alexandria New Medical Center.

An offer has been submitted to CI Capital Holding For Financial Investments to start the negotiation process, Speed Medical said in a bourse disclosure on Sunday.

In a separate statement, Alexandria New Medical Center responded to news reports about CI Capital receiving offers from Cleopatra Hospitals Group, Tawasol alliance, and Al Asafra-Tana alliance for the acquisition of Alexandria New Medical Center.

The company said that it has no information concerning the matter.

In 2020, Speed Medical achieved net profits of EGP 79.2 million, up from EGP 17.09 million in 2019, including minority shareholders’ rights.