Cairo –  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.

Source: Mubasher

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