Cairo - Mubasher: Speed Medical Company's Chairman, Mahmoud Lashin, announced the future investment plan after his stake in the company reached more than 25%. 

The company currently owns 120 labs and plans to increase the number of Speed Medical labs to 200 and Misr Labs to 200 by the end of 2024, according to a bourse disclosure on Wednesday. 

In addition, Speed Medical also aims to increase the number of clinic complexes to six by the end of 2023 from the current two. 

As for its 80.25%-owned Speed Hospitals Company, Speed Medical plans to complete the establishment of Speed Hospital in Obour by the end of 2021 with a capacity of 65 beds and plans to boost the capacity to 140 beds.

Following the completion of procedures to acquire +50% of New Al Safwa Specialized Hospital Company, the company plans to increase the capacity of the hospital in Sixth of October City to 150 beds from the current 67. 

There are also plans to establish Speed Finance as the first company specialised in financing medical and pharmaceutical services in Egypt. Speed Medical will contribute 50% to the capital of the company which amounts to EGP 25 million. 

Speed Medical will also inject EGP 22.5 million to acquire 25.01% of Digital Wellnez Software. The consideration amount will be pumped in cash within a year.