Cairo – Mubasher: Speed Medical Company announced a contract to manage a lab at the American Hospital, located in Sheraton District in Heliopolis, under the name Speed Lab, according to a bourse filing on Tuesday.
The agreement is based on a revenue split concept where Speed Lab will receive 60% of the cash revenue and 90% of the contract revenue.
Following this deal, Speed Lab currently owns and operates 116 branches. It has a plan to expand to 140 facilities by the end of 2021, of which seven units in Cairo and Alexandria are expected to open in August.
