{"id":573554,"date":"2020-08-10T04:09:41","date_gmt":"2020-08-10T04:09:41","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/10\/speed-medical-to-acquire-city-labs-by-the-end-of-the-year\/"},"modified":"2020-08-10T04:09:41","modified_gmt":"2020-08-10T04:09:41","slug":"speed-medical-to-acquire-city-labs-by-the-end-of-the-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/10\/speed-medical-to-acquire-city-labs-by-the-end-of-the-year\/","title":{"rendered":"Speed Medical to acquire City Labs by the end of the year"},"content":{"rendered":"

<\/a> M&A WATCH- Speed Medical to acquire City Labs by the end of the year: <\/strong>Speed Medical (SPMD) will wrap up its acquisition of a 100% stake in City Labs<\/a> by the end of 2020, CEO Mahmoud Lasheen told the local press<\/a>. The company is aiming to finish the due diligence process by the end of 3Q2020 with an eye to complete the takeover by the end of the year, he said.<\/p>\n

Background:<\/strong> Speed Medical first announced<\/a> in June that it had entered acquisition talks with City Labs. The two currently operate 23 medical labs in Port Said, Suez, Ismailia, Damietta, Mansoura and Port Fuad through CitySpeed, a joint venture set up in 2018. The company said it would finalize the transaction after completing a EGP 220 mn capital increase, one of two increases<\/a> that it hopes will allow it to make the leap from the small-cap NileX to the EGX<\/a>.<\/p>\n

SPMD will also open seven new medical labs in Alexandria next month<\/strong> worth some EGP 12 mn as part of the company\u2019s expansion strategy kicked off late last year, Lasheen said. The company expects to have 30 new outlets under its belt by the end of the year through acquisitions and opening new branches, he said. This would take the company\u2019s branch count to 100, he added.<\/p>\n","protected":false},"excerpt":{"rendered":"

M&A WATCH- Speed Medical to acquire City Labs by the end of the year: Speed Medical (SPMD) will wrap up its acquisition of a 100% stake in City Labs by the end of 2020, CEO Mahmoud Lasheen told the local press. The company is aiming to finish the due diligence process by the end of […]<\/p>\n","protected":false},"author":1,"featured_media":573555,"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":[8572],"tags":[72,7115,5652,551,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-573554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-healthcare","tag-medical-labs","tag-speed-medical","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"512cf9c3-19d2-40af-835c-a7e773d3b664","is_powered_by":true,"section_story_id":"55afc922-0f20-4098-8c1f-79eb6f738cb4","story_type":"1","photo_url":"https:\/\/ent.news\/2020\/8\/58.jpg","photo_position":"above","related_issue":[573546],"teaser":"","voice_url":""},"yoast_head":"\nSpeed Medical to acquire City Labs by the end of the year - 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\/2020\/08\/10\/speed-medical-to-acquire-city-labs-by-the-end-of-the-year\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Speed Medical to acquire City Labs by the end of the year\" \/>\n<meta property=\"og:description\" content=\"M&A WATCH- Speed Medical to acquire City Labs by the end of the year: Speed Medical (SPMD) will wrap up its acquisition of a 100% stake in City Labs by the end of 2020, CEO Mahmoud Lasheen told the local press. The company is aiming to finish the due diligence process by the end of […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/10\/speed-medical-to-acquire-city-labs-by-the-end-of-the-year\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2020-08-10T04:09:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/58.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/10\/speed-medical-to-acquire-city-labs-by-the-end-of-the-year\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/10\/speed-medical-to-acquire-city-labs-by-the-end-of-the-year\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Speed Medical to acquire City Labs by the end of the year\",\"datePublished\":\"2020-08-10T04:09:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/10\/speed-medical-to-acquire-city-labs-by-the-end-of-the-year\/\"},\"wordCount\":224,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/10\/speed-medical-to-acquire-city-labs-by-the-end-of-the-year\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2020\/8\/58.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EnterpriseAM\",\"healthcare\",\"Medical labs\",\"Speed Medical\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/10\/speed-medical-to-acquire-city-labs-by-the-end-of-the-year\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2020\/08\/10\/speed-medical-to-acquire-city-labs-by-the-end-of-the-year\/\",\"name\":\"Speed Medical to acquire City Labs by the end of the year - 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The two had already set up a joint venture, CitySpeed, in 2018. 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":574589,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/15\/speed-medical-acquires-misr-laboratories-for-egp-10-mn\/","url_meta":{"origin":573554,"position":1},"title":"Speed Medical acquires Misr Laboratories for EGP 10 mn","author":"enterpriseam admin","date":"15 September 2020","format":false,"excerpt":"M&A WATCH- Upstart labs outfit Speed Medical signed a sale and purchase agreement to acquire Misr Laboratories in a transaction worth up to EGP 10 mn, according to a regulatory filing (pdf). The acquisition includes Misr Laboratories' eight branches across Beni Suef, Al Manial, and Atfih. 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The transaction is expected to be\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":569705,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/04\/speed-medical-to-finalize-safwa-labs-acquisition-by-3q2020\/","url_meta":{"origin":573554,"position":5},"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. 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