{"id":558344,"date":"2021-08-05T04:31:35","date_gmt":"2021-08-05T04:31:35","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/05\/speed-medical-to-list-on-dfm-in-4q2021\/"},"modified":"2021-08-05T04:31:35","modified_gmt":"2021-08-05T04:31:35","slug":"speed-medical-to-list-on-dfm-in-4q2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/05\/speed-medical-to-list-on-dfm-in-4q2021\/","title":{"rendered":"Speed Medical to list on DFM in 4Q2021"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-03\"><\/a> <strong>Speed Medical to list on DFM in 4Q2021: <\/strong>The diagnostics labs operator expects to list on the Dubai Financial Market (DFM) in 4Q2021, Chairman Mahmoud Lasheen told us yesterday, confirming his earlier statements to <a href=\"https:\/\/bit.ly\/3imPFO3\">Al Mal<\/a>. Speed Medical (SPMD) plans to complete regulatory requirements in Egypt and Dubai within the next few weeks, he added. The board had already <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fcca9533-fd1b-432e-9a1f-edf24ce1b063\">approved the plan in May<\/a>, in a move that would make Speed Medical the country\u2019s latest dual-listed company following LSE-listed Integrated Diagnostics Holding\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/48ddada3-0016-47a8-a9e6-201cb9d0cca7\">EGX debut<\/a> earlier this year. SPMD was the first to make the jump to the EGX late last year from the small-cap Nilex when it completed <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c901d149-9660-4b9a-a4d1-c52bde56de24\">an EGP 222 mn capital increase<\/a>.<\/p>\n<p><strong>The company is also planning investments of EGP 400 mn in 2022: <\/strong>Diagnostics and healthcare firm Speed Medical plans to invest EGP 400 mn next year, Lasheen noted. The company had earlier announced plans to invest EGP 330 mn in expansions and acquisitions <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/970ebaa4-298a-45b0-ac9d-35530ee85d2f\">during 2020-2022<\/a>.<\/p>\n<p><strong>Where\u2019s the money going?<\/strong> The company will invest EGP 90 mn in adding 60 new branches to Speed Lab\u2019s network, and will spend another EGP 140 mn on establishing an additional 90 branches of Misr Labs, which SPMD <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/1d8ade70-9cc8-41af-8041-4e6ffb13e4e3\">acquired last year<\/a>. EGP 70 mn will go towards growing <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/7b8c8f1f-bd5f-41d1-ac95-ca0c7f780d98\">Al Safwa Hospital\u2019s capacity<\/a> to 150 beds from its current 67, while another EGP 70 mn will be spent on raising the capacity of the hospital\u2019s other facility in Obour City to 140 beds from a current 65. The company will also launch a new polyclinic in New Cairo with investments worth EGP 5 mn.<\/p>\n<p><strong>SPMD is also looking to grow further in the consumer finance space<\/strong>, with Lasheen saying its lending arm <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/f9fc1da4-f798-4638-a2bb-85ad604ef9a5\">Speed Finance<\/a> could be offered through <a href=\"https:\/\/caresquare.app\/\">CareSquare<\/a>, an online directory of medical professionals, if Speed Medical manages to snap up a 25% stake in <a href=\"http:\/\/www.dg-well.com\/\">DG Well<\/a>, the software company that owns CareSquare, Lasheen said. That would give Speed Medical 50% of Speed Finance, which will launch with EGP 25 mn in capital, with 40% planned to be offered to investors and 10% to be owned by DG Well.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Speed Medical to list on DFM in 4Q2021: The diagnostics labs operator expects to list on the Dubai Financial Market (DFM) in 4Q2021, Chairman Mahmoud Lasheen told us yesterday, confirming his earlier statements to Al Mal. Speed Medical (SPMD) plans to complete regulatory requirements in Egypt and Dubai within the next few weeks, he added. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":558345,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8405],"tags":[72,7115,1301,551],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558344","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-watch","tag-enterpriseam","tag-healthcare","tag-market-watch","tag-speed-medical","wpautop","entry"],"acf":{"mongo_id":"811ed7c9-8af5-4676-a3d1-bb5476a08bc2","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/95.jpg","photo_position":"above","related_issue":[558336],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Speed Medical to list on DFM in 4Q2021 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/05\/speed-medical-to-list-on-dfm-in-4q2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Speed Medical to list on DFM in 4Q2021\" \/>\n<meta property=\"og:description\" content=\"Speed Medical to list on DFM in 4Q2021: The diagnostics labs operator expects to list on the Dubai Financial Market (DFM) in 4Q2021, Chairman Mahmoud Lasheen told us yesterday, confirming his earlier statements to Al Mal. Speed Medical (SPMD) plans to complete regulatory requirements in Egypt and Dubai within the next few weeks, he added. 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The exchange\u2019s registration committee approved the listing following the company\u2019s EGP 221.8 mn capital increase, paving the way for it to\u2026","rel":"","context":"In &quot;MARKET WATCH&quot;","block_context":{"text":"MARKET WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/market-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/12\/70.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572112,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/11\/speed-medical-will-acquire-city-labs-in-the-coming-months\/","url_meta":{"origin":558344,"position":2},"title":"Speed Medical will acquire City Labs in the coming months","author":"enterpriseam admin","date":"11 June 2020","format":false,"excerpt":"M&A WATCH- Speed Medical (SPMD) is set to acquire 100% of City Labs in the coming months once SPMD completes a EGP 220 mn capital increase and completes due diligence on City Lab, according to Hapi Journal. The two had already set up a joint venture, CitySpeed, in 2018. The\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":560153,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/17\/speed-medical-buying-out-partners-in-prime-speed\/","url_meta":{"origin":558344,"position":3},"title":"Speed Medical buying out partners in Prime Speed?","author":"enterpriseam admin","date":"17 February 2021","format":false,"excerpt":"Diagnostics and healthcare firm Speed Medical (SPMD) wants to take 100% ownership of Prime Speed Healthcare, according to a report in Al Mal\u2019s print edition, citing unnamed sources that claim Speed Medical\u2019s board of directors signed off on the acquisition yesterday. The value of the transaction was not disclosed.The transaction\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":554315,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/fra-takes-legal-action-against-speed-medical\/","url_meta":{"origin":558344,"position":4},"title":"FRA takes legal action against Speed Medical","author":"enterpriseam admin","date":"29 December 2021","format":false,"excerpt":"Speed-related drama in the headlines: The Financial Regulatory Authority (FRA) has filed two lawsuits against Speed Medical (SPMD) before the Cairo Economic Court, SPMD said in a regulatory filing yesterday (pdf). An FRA official declined to get into the specifics of the lawsuits, saying the agency cannot comment about ongoing\u2026","rel":"","context":"In &quot;M&amp;A WATCH&quot;","block_context":{"text":"M&amp;A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/541.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574992,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/29\/speed-medical-to-invest-egp-330-mn-through-2022\/","url_meta":{"origin":558344,"position":5},"title":"Speed Medical to invest EGP 330 mn through 2022","author":"enterpriseam admin","date":"29 September 2020","format":false,"excerpt":"INVESTMENT WATCH- Lab outfit Speed Medical (SPMD) plans to invest some EGP 330 mn in expansions and acquisitions through 2022, Chairman Mahmoud Lasheen tells Al Mal. The company has earmarked EGP 200 mn to more than double its network of branch labs to 200 by the end of 2022, and\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=558344"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/558344\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/558336"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/558345"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=558344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=558344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=558344"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=558344"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=558344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}