Speed Medical (SPMD) has signed two purchase contracts for the acquisition of Nour El Eslam & El Sharq laboratories, while the acquisition of City labs fell through.
More Details🧐 Nour El Eslam labs owns three branches in Beheira & Kafr El Sheikh, while El Sharq labs own two branches in Kafr El Sheikh.
The company also revealed that the acquisition of 50% + 1 share of City labs has fallen through, after failing to obtain the Ministry of Health’s approval.
Why is this Important🤔 The acquisition cost of Nour El Eslam labs stood at EGP 6.5 million, while El Sharq labs cost EGP 2.5 million. The deal for City labs would have cost EGP 27.4 million.
