Cairo – Mubasher: The board of directors of Speed Medical Company approved the cancellation of its plan to establish a company for managing hospitals and medical facilities as it goes against the memorandum of understanding (MoU) signed with the Saudi Elaj Medical Group in December 2020.
The board also approved a proposal to study the costs of expanding Speed Hospital to 140 beds from 65 and set up a self-financing plan from the increase in annual profits in 2021 and 2022, the company said in a bourse disclosure on Monday.
During the first nine months of 2020, Speed Medical reported net profits of EGP 49.08 million, up from EGP 16.419 million in the corresponding period a year earlier.
