{"id":564443,"date":"2021-02-07T14:02:40","date_gmt":"2021-02-07T14:02:40","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/ma-and-an-ipo-in-the-works-for-speed-savola-looking-at-an-egypt-acquisition\/"},"modified":"2021-02-07T14:02:40","modified_gmt":"2021-02-07T14:02:40","slug":"ma-and-an-ipo-in-the-works-for-speed-savola-looking-at-an-egypt-acquisition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/07\/ma-and-an-ipo-in-the-works-for-speed-savola-looking-at-an-egypt-acquisition\/","title":{"rendered":"M&A and an IPO in the works for Speed + Savola looking at an Egypt acquisition"},"content":{"rendered":"

<\/a> Speed Medical closing in on Al Safwa Hospital acquisition, says it will spin-off hospitals <\/strong>arm ahead of IPO: <\/strong>A consortium led by Speed Hospitals \u2014 a subsidiary of diagnostics and healthcare firm Speed Medical \u2014 is looking to acquire a 100% stake in Six of October\u2019s New Al Safwa Specialized Hospital in a transaction worth c. EGP 185 mn, according to a disclosure (pdf)<\/a>. Speed Hospital itself wants at least 50% plus one share of Al Safwa along with management rights, with the rest of the equity to be placed with unnamed local and regional investors.<\/p>\n

Among those investors: <\/strong>Sister company Prime Speed Medical Services, which said in a<\/a>regulatory filing (pdf)<\/a> that it\u2019s in for 10% of New Al Safwa Specialized at a cost of EGP 18.5 mn.<\/p>\n

EFG Hermes Leasing is providing Speed Hospitals with financing worth EGP 92.5 mn<\/strong> to complete the transaction. Our friends at Pharos Holdings are said to be advising on the transaction.<\/p>\n

Speed Hospitals could IPO within three years:<\/strong> Speed Medical is looking to grow its hospitals arm before spinning off the division ahead of a potential IPO, which is expected to happen at some point in the coming three years, according to the disclosure. Speed Hospitals plans to raise Al Safwa Hospital\u2019s capacity to 150 beds from a current 67, while also growing its own facility in Obour City to 140 beds. The company wants to have 300 beds under a single corporate umbrella by the time of the IPO. Speed Medical became last year the first company to make the jump from Nilex baby bourse to the EGX<\/a>.<\/p>\n

Attractive healthcare sector goes red hot:<\/strong> This is the second major healthcare M&A we\u2019ve heard of so far in 2021 following theCleopatra Hospital - Alameida merger<\/a> late last year. A consortium made up of Mabaret Al Asafra Hospitals and Africa-focused investment firm Tana Africa Capital are reportedly bidding<\/a> on Abu Dhabi Commercial Bank\u2019s (ADCB) 51.5% stake in Alexandria Medical Services.<\/p>\n

IN OTHER M&A NEWS- Saudi Arabian food conglomerate Savola Group is considering <\/strong>acquiring food companies in Egypt and other markets <\/strong>as part of its regional expansion in Egypt, Savola Foods\u2019 chief strategy officer Mohamed Badran tells Masrawy<\/a>. The target of the acquisition is a company that produces products that Savola currently does not have market share in, he added. He hopes that the acquisition \u2014 which comes as part of the company\u2019s five year plan to expand its footprint in the region \u2014 will be completed by the end of the year.<\/p>\n

CLARIFICATION- An earlier version of this story suggested that Savola is eyeing a particular Egyptian food company for its acquisition plan. The Saudi conglomerate is currently studying several potential targets.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Speed Medical closing in on Al Safwa Hospital acquisition, says it will spin-off hospitals arm ahead of IPO: A consortium led by Speed Hospitals \u2014 a subsidiary of diagnostics and healthcare firm Speed Medical \u2014 is looking to acquire a 100% stake in Six of October\u2019s New Al Safwa Specialized Hospital in a transaction worth […]<\/p>\n","protected":false},"author":1,"featured_media":564444,"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":[10045],"tags":[633,7115,78,7128,551],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-564443","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round-ma-watch","tag-enterprisepm","tag-healthcare","tag-ipo-watch","tag-ma-watch","tag-speed-medical","wpautop","entry"],"acf":{"mongo_id":"7b8c8f1f-bd5f-41d1-ac95-ca0c7f780d98","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/412.jpg","photo_position":"above","related_issue":[564439],"teaser":"","voice_url":""},"yoast_head":"\nM&A and an IPO in the works for Speed + Savola looking at an Egypt acquisition - 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The decision came\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/398.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569326,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/20\/speed-medical-signs-acquisition-agreement-with-safwa-labs-in-egypts-ismaila\/","url_meta":{"origin":564443,"position":2},"title":"Speed Medical signs acquisition agreement with Safwa labs in Egypt\u2019s Ismaila","author":"enterpriseam admin","date":"20 February 2020","format":false,"excerpt":"M&A WATCH- Speed Medical signs management + acquisition agreement with Ismailia\u2019s Safwa labs: Speed Medical has signed an agreement to acquire Ismailia-based medical labs chain Safwa later this year after managing Safwa\u2019s five branches for a few months on a trial basis, Speed said in a disclosure to the EGX\u2026","rel":"","context":"In "Speed Round"","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":566126,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/05\/30\/speed-medical-quits-bidding-war-for-alex-medical\/","url_meta":{"origin":564443,"position":3},"title":"Speed Medical quits bidding war for Alex Medical","author":"enterpriseam admin","date":"30 May 2021","format":false,"excerpt":"Speed Medical is no longer part of a consortium bidding for 100% of Alexandria Medical Services, the EGX-listed medical diagnostics firm said in a statement (pdf), adding that it would instead be looking for new investments that it could consolidate on its balance sheet. Speed was after a 10% stake\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/5\/481.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569705,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/speed-medical-to-finalize-safwa-labs-acquisition-by-3q2020\/","url_meta":{"origin":564443,"position":4},"title":"Speed Medical to finalize Safwa labs acquisition by 3Q2020","author":"enterpriseam admin","date":"4 March 2020","format":false,"excerpt":"M&A WATCH- Speed Medical to finalize Safwa labs acquisition by 3Q2020: Speed Medical is planning to finalize its acquisition of Ismailia-based medical labs chain Safwa at the beginning of 3Q2020, Chairman Mahmoud Lasheen told Al Mal. The acquisition could coincide with Speed\u2019s transition from the Nile Stock Exchange to the\u2026","rel":"","context":"In "Speed Round"","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":554315,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/29\/fra-takes-legal-action-against-speed-medical\/","url_meta":{"origin":564443,"position":5},"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 "M&A WATCH"","block_context":{"text":"M&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":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564443","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=564443"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/564443\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/afternoon\/564439"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/564444"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=564443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=564443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=564443"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=564443"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=564443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}